01 Stock Market
The U.S. major indexes closed as follows: Dow Jones down 0.96% at 45,577.47; S&P 500 down 1.51% at 6,506.48; NASDAQ down 2.01% at 21,647.61. A late-session sell-off in big-cap technology names and renewed concerns about higher interest rates kept all three benchmarks in the red at Thursday’s close.
Sharp swings in several high-profile stocks dominated the session. AI-hardware bellwether Nvidia (NVDA) down 3.28% at $172.70 and electric-vehicle leader Tesla (TSLA) down 3.24% at $367.96 led the mega-cap retreat. Memory maker Micron (MU) down 4.81% at $422.90 fell after an earnings-day rally faded, while server specialist Super Micro Computer (SMCI) down 33.32% at $20.53 collapsed on negative legal headlines. Bright spots were scarce, though leveraged bear fund SQQQ up 5.72% at $80.25 and semiconductor short play SOXS up 6.69% at $40.66 benefited from the tech sell-off. Satellite-imaging firm Planet Labs (PL) up 25.48% at $33.83 bucked the trend after strong guidance, while classic defensive Apple (AAPL) slipped only 0.39% to $247.99, outperforming peers.
Macro worries added to the equity pullback. Futures markets moved to price in a possible late-year Federal Reserve rate hike, pushing bond yields higher and pressuring growth valuations. Meanwhile, energy prices marched upward on geopolitical tension, squeezing transport and industrial names. Despite the day’s weakness, some traders noted that profit-taking in over-extended AI leaders could create selective entry points once policy and earnings visibility improve.
02 Other Markets
U.S. 10-year Treasury yield rose by 2.54%, latest at 4.39%. USD/CNH rose 0.47%, at 6.91; USD/HKD fell 0.01%, at 7.83. U.S. Dollar Index rose 0.27%, at 99.50. WTI crude futures rose 2.66%, at 98.09 USD/bbl; COMEX gold futures fell 2.47%, at 4,492.00 USD/oz.
03 Top News
1. Dell gained ground as Super Micro Computer plunged on legal turmoil. A co-founder of Super Micro faced criminal charges, sparking a steep sell-off in the AI-server specialist. Investors rotated toward Dell, viewing it as a safer beneficiary of near-term server demand.
2. Planet Labs beat earnings expectations and lifted multi-year guidance, propelling the stock higher. The satellite-imaging company reported record quarterly revenue and its first full-year free-cash-flow profitability. Management projected fiscal revenue well above consensus, highlighting strong government and commercial contracts.
3. Firefly Aerospace narrowed losses and projected robust sales growth, sending shares sharply higher. The space-technology firm recorded triple-digit annual revenue expansion and issued upbeat full-year targets. Executives emphasized recent lunar mission milestones and new defense contracts as key growth drivers.
4. FedEx exceeded fiscal third-quarter estimates and raised its full-year outlook, boosting investor confidence. Cost efficiencies and rising international express volumes drove margin improvement. The logistics giant now forecasts six-plus percent revenue growth, above prior projections.
5. XPeng guided for softer first-quarter revenue amid intense price competition, pressuring the stock. Management cited slowing demand in China and aggressive discounting across the EV sector. The company plans heavier investment in autonomous driving to restore growth momentum.
6. Novo Nordisk’s semaglutide patent expiry opened India’s market to more than 40 generic challengers. Local drugmakers signalled launches at up to sixty percent discounts, broadening access to weight-loss injections. Analysts warned rapid proliferation could erode Novo’s regional share and compress margins for peers Eli Lilly and others.
7. Futures traders recently shifted to price a Federal Reserve rate hike by year-end, triggering a precious-metals sell-off. Odds of tighter policy climbed above fifty percent, according to short-term rate contracts. Spot gold and silver slid, dragging leveraged silver ETF AGQ down double digits.
8. Tesla teased “Terafab,” an in-house chip-fabrication initiative aimed at securing AI supply. CEO Elon Musk said the project would support ambitions in robotaxis and humanoid robots. Analysts noted a dedicated fab could cost tens of billions but reduce reliance on external foundries.
9. HSBC upgraded Arm Holdings to Buy, citing rising demand for its AI-focused CPUs. The bank argued Arm is transitioning from smartphone dependence to becoming a pivotal provider of server-class AI processors. Shares reacted positively to the endorsement and higher price target.
10. U.S. policymakers are weighing a naval blockade of Iran’s main oil-export hub, raising geopolitical stakes. Options under discussion include restricting tanker access to pressure Tehran. Energy analysts warned the move could further tighten global crude supply and amplify price volatility.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
