01 Stock Market
U.S. stocks closed lower on Tuesday, with early gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings.
Iran could attend talks with the United States in Pakistan if Washington abandons its policy of pressure and threats, a senior Iranian official told Reuters, adding that Tehran rejects negotiations aimed at surrender.
Stand-out movers were a tale of sharp rallies and notable pullbacks. Car-rental giant Avis Budget (CAR) jumped 17.27% at $713.97 as a powerful short squeeze intensified. Health-insurance heavyweight UnitedHealth (UNH) surged 6.96% at $346.01 after upbeat earnings and a guidance lift. Semiconductor names were mixed: Advanced Micro Devices (AMD) rose 3.47% at $284.49, while Nvidia (NVDA) fell 1.08% at $199.88. Leveraged chip ETF SOXL added 2.24% at $98.09, contrasting with inverse peer SOXS down 2.31% at $18.20. Among mega-caps, Microsoft (MSFT) gained 1.46% at $424.16, whereas Apple (AAPL) declined 2.52% at $266.17.
Sector ETFs and thematic plays showed mixed sentiment. The broad market proxies softened, with SPDR S&P 500 ETF Trust (SPY) down 0.65% at $704.08 and Invesco QQQ (QQQ) down 0.38% at $644.33. Chip-equipment supplier Micron Technology (MU) inched 0.21% higher at $449.38, while e-commerce heavyweight PDD Holdings (PDD) slid 5.00% at $98.99. Electric-vehicle bellwether Tesla (TSLA) eased 1.55% at $386.42, and streaming leader Netflix (NFLX) fell 2.37% at $92.58, rounding out a session of contrasting fortunes among individual high-profile names.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.05%, latest at 4.05%.
USD/CNH was unchanged at 6.87; USD/HKD fell 0.0090%, at 7.82.
U.S. Dollar Index fell 0.03%, at 97.62.
WTI crude futures rose 0.34%, at 65.64 USD/bbl; COMEX gold futures rose 0.05%, at 5,186.10 USD/oz.
03 Top News
Trump Extends Iran Ceasefire, Maintains Hormuz Blockade
U.S. President Donald Trump said Tuesday that the U.S. would extend its ceasefire with Iran, explaining that the decision was justified by deep divisions within Tehran's leadership.
He added that the truce would remain in place until Iranian officials present a coordinated plan to bring an end to the conflict involving the U.S. and Israel. The two-week truce was previously set to expire Wednesday.
“Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal,” Trump said in a social media post.
"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other," he added.
Warsh Says He Made No Rate-Cut Promises to Trump, Plans 'Robust' Fed Reforms
Federal Reserve chief nominee Kevin Warsh said on Tuesday he had made no promises to President Donald Trump about cutting interest rates, as he tried to assure U.S. senators mulling his confirmation to lead the U.S. central bank that he would act independently of the White House while pursuing broad reforms.
In a hearing that ranged from Warsh's calls for "regime change" at the Fed to contentious exchanges over his personal finances, the 56-year-old lawyer and financier said that in his conversations with Trump about the job, "the president never asked me to commit to interest rate cuts ... he did not demand it ... the president never asked me to commit to any such thing nor would I do so."
SpaceX Says It Has Option to Acquire Startup Cursor for $60 Billion
SpaceX said it has secured an option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for their new partnership, as it pushes deeper into the lucrative market for AI developer tools.
Along with OpenAI and Anthropic, Cursor is one of several Silicon Valley startups that have drawn waves of developers by using artificial intelligence to automate coding, a business where AI companies have found early commercial traction.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
