01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.02% at 49,609.16; S&P 500 up 0.84% at 7,398.93; NASDAQ up 1.71% at 26,247.08. The technology-heavy composite outperformed as investors rotated toward high-growth names, while the industrial-heavy Dow barely eked out a gain. Broad strength in semiconductors offset pockets of profit-taking in defensives, helping the benchmark S&P 500 notch another all-time closing high.
Semiconductor and AI-linked stocks dominated the session’s biggest movers. Memory specialist Micron Technology (MU) up 15.49% at $746.81 and flash pioneer SanDisk (SNDK) up 16.60% at $1,562.34 led the charge as supply bottlenecks tightened. Chip giants followed suit, with Intel (INTC) up 13.96% at $124.92, Advanced Micro Devices (AMD) up 11.44% at $455.19, and Qualcomm (QCOM) up 8.17% at $219.09. Leveraged fund SOXL up 16.33% at $176.94 mirrored the sector’s momentum, while its bearish counterpart SOXS fell 16.51% at $8.85. Space-launch newcomer Rocket Lab (RKLB) vaulted 34.22% at $105.47 after upbeat guidance, and electric-vehicle bellwether Tesla (TSLA) gained 4.02% at $428.35. Mega-caps kept pace, with Apple (AAPL) up 2.05% at $293.32 and Nvidia (NVDA) up 1.75% at $215.20, while cloud-computing firm CoreWeave (CRWV) declined 11.40% at $114.15.
Market breadth reinforced the rotation toward next-generation hardware themes. Demand for computing power and memory chips remained the primary catalyst behind outsized gains, echoing robust corporate spending on artificial-intelligence infrastructure. In contrast, inverse and defensive plays lagged, underscoring investor preference for cyclical growth. Traders now look to upcoming inflation data and another wave of tech earnings for further direction.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.68%, latest at 4.36%.
USD/CNH fell 0.14%, at 6.84; USD/HKD fell 0.05%, at 7.83.
U.S. Dollar Index fell 0.41%, at 97.84.
WTI crude futures fell 0.14%, at 94.68 USD/bbl; COMEX gold futures rose 0.27%, at 4,723.70 USD/oz.
03 Top News
1. Tech giants court SK Hynix with pre-payments to expand memory production amid AI chip shortages. Industry sources say multiple customers are offering financing and tool purchases to lock in supply. The unusual move underscores acute demand for high-bandwidth memory used in artificial-intelligence data centers.
2. Rocket Lab posts a Q1 revenue beat and lifts Q2 sales outlook to as much as $240 million. The launch provider’s gross profit more than doubled year on year, boosted by satellite-systems growth. Management also highlighted on-schedule progress for its larger Neutron rocket.
3. The U.S. Space Force selects Rocket Lab and RTX to demonstrate space-based interceptor capabilities. The contract, part of the Golden Dome program, positions Rocket Lab for deeper defense ties. Shares surged as investors cheered the potential long-term revenue stream.
4. Rocket Lab agrees to acquire robotics specialist Motiv to accelerate factory automation. The deal aims to streamline satellite production and enhance in-house component manufacturing. Management expects cost savings and faster delivery cycles for upcoming missions.
5. Hedge fund TCI slashes its $8 billion stake in Microsoft to 1% of assets, citing AI threats to core software franchises. Founder Sir Christopher Hohn warned clients that generative AI could disrupt Office and Azure’s market dominance. Proceeds were partially redeployed into a larger position in Alphabet.
6. AI start-up Anthropic is weighing a multibillion-dollar capital raise that could lift its valuation near $1 trillion. The funds would finance massive increases in computing capacity to compete with larger rivals. Discussions are reportedly underway with several strategic and financial investors.
7. Anthropic strikes a deal to lease advanced AI compute capacity from SpaceX. The long-term arrangement leverages SpaceX’s Starlink ground infrastructure to support large-scale model training. Observers view the partnership as a fresh challenge to incumbents in cloud AI services.
8. U.S. Bureau of Labor Statistics reports non-farm payrolls grew by 115,000, beating consensus. The stronger-than-expected job creation highlights ongoing economic resilience. Markets interpreted the data as supportive of continued consumer strength.
9. U.S. unemployment rate remains unchanged at 4.3%, matching economists’ forecasts. Stable joblessness suggests a balanced labor market even as policymakers monitor inflationary pressures. Wage growth data will influence expectations for future Federal Reserve decisions.
10. U.S. Central Command says Navy destroyers repelled unprovoked attacks in the Strait of Hormuz. The interception occurred while diplomatic channels seek progress on a broader U.S.–Iran peace proposal. Energy traders are watching for any escalation that could disrupt key oil shipping lanes.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
