Stock Market
The U.S. major indexes closed as follows: Dow Jones down 0.79% at 52,766.88; S&P 500 down 0.71% at 7,631.47; NASDAQ down 1.03% at 26,099.77.
Semiconductors and mega-caps showed the most pronounced swings. Apple AAPL rose 2.61% at $325.13 as investors rotated into perceived quality after another volatile session. In leveraged chip ETFs, Direxion Daily Semiconductors Bear 3x Shares SOXS jumped 6.53% at $52.22, while its bullish counterpart SOXL fell 6.10% at $105.91, underscoring sharp two-way trading in the sector.
AMD declined 2.36% at $459.61. Defensive positioning was evident in ProShares UltraPro QQQ TQQQ, off 3.85% at $69.15.
Broader risk appetite remained fragile. Benchmark ETFs SPDR S&P 500 Trust SPY and Invesco QQQ QQQ each slipped more than 1%, while Meta Platforms META managed a modest 1.08% rise to $578.54.
The day’s mixed leadership, with a handful of defensive tech names bucking an overall decline, reflects persistent caution over higher bond yields and geopolitical tensions.
Other Markets
U.S. 10-year Treasury yield was unchanged at 4.80%.
USD/CNH fell 0.01% at 6.78; USD/HKD fell 0.00% at 7.84.
U.S. Dollar Index was little changed, up 0.00% at 99.67.
WTI crude futures rose 0.61% to $90.77 USD/bbl; COMEX gold futures fell 0.49% to $4,374.80 USD/oz.
Top News
1. Chevron nears a deal to expand Venezuelan oil output. Sources say the company will add operations in the Orinoco belt through fresh agreements with PdVSA. The move could raise production beyond its current 280,000-barrel-per-day level.
2. Shell agrees to buy the remainder of Tri Star Energy to boost U.S. convenience-store presence. The transaction adds about 320 company-owned sites and supply contracts for more than 550 dealer locations. Shell says the deal aligns with its strategy to grow its mobility and convenience business in key markets.
3. U.S. conducts additional strikes against Iranian targets, escalating Hormuz tensions. President Trump warned of harsher retaliation if Tehran responds. The military action follows attempts by Iran to mine the strategic waterway, lifting oil prices above $90.
4. Germany blames Russia for an attempted drone attack on Leipzig Airport. Berlin’s interior minister called the incident part of ongoing “hybrid warfare”. NATO and EU leaders pledged countermeasures amid rising security concerns across Europe.
5. Oracle’s cloud-licensing practices draw EU antitrust scrutiny. Regulators are gathering market feedback to assess possible anti-competitive behavior, echoing a recent case settled with SAP. Oracle has not yet commented on the inquiry.
6. Palo Alto Networks forecasts revenue growth above 20% as AI spurs cybersecurity demand. The firm projects up to $14.2 billion in fiscal-year sales and higher earnings per share. Management cited enterprise urgency to modernize defenses against AI-powered threats.
7. Dell reports record $60.9 billion in AI-server orders and raises its outlook. AI-optimized server revenue doubled year-on-year to $16.4 billion. The backlog swelled to $95 billion, signaling sustained infrastructure demand.
8. Broadcom faces investor pressure to clarify long-term AI revenue targets ahead of earnings. Analysts want updates on its goal of surpassing $100 billion in AI sales by fiscal 2027. Concerns persist over competition for custom chips at major cloud providers.
9. Fed Governor Michael Barr signals readiness to raise rates if inflation fails to ease. He said energy-driven price pressures risk derailing progress toward the 2% goal. Markets now see higher odds of a hike at the mid-September meeting.
10. Interactive Brokers drops 7% after Goldman removes it from a preferred-stocks list. UBS separately initiated coverage with a Neutral view, citing full valuation despite strong account growth and rising margin balances.
Sources: Reuters, Dow Jones Newswires, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
