Stock Market
The U.S. major indexes closed as follows: Dow Jones up 1.14% at 52,900.07; S&P 500 up 0.00% at 7,483.24; NASDAQ declined 0.80% at 25,832.67. Trading volumes were lighter ahead of the holiday-shortened week, but a mixed economic picture kept investors rotating between defensive blue chips and high-beta technology shares.
Semiconductors slumped while a handful of tech bellwethers outperformed. Within the day’s most volatile movers, Apple (AAPL) jumped 4.84% at $308.63 on reports of an expanded iPhone roadmap.
Memory names remained under pressure: Micron Technology (MU) declined 5.49% at $975.56, SanDisk (SNDK) fell 14.13% at $1,745.00, and Western Digital (WDC) declined 9.92% at $539.00.
Leveraged chip fund SOXL dropped 16.58% at $181.47, while its inverse counterpart SOXS rose 16.84% at $4.51.
Electric-vehicle leader Tesla (TSLA) fell 7.49% at $393.45 despite record deliveries, whereas software-driven Palantir (PLTR) gained 2.84% at $129.30.
Broader tech pressure also weighed on NVIDIA (NVDA) down 1.39% at $194.83 and Marvell Technology (MRVL) down 9.84% at $245.29, while Microsoft (MSFT) added 1.62% at $390.49.
ETF swings underscored investor hedging. The high-profile ProShares UltraPro QQQ (TQQQ) declined 5.31% at $73.35, mirroring weakness in growth shares, whereas the broad-based Vanguard S&P 500 ETF (VOO) ticked lower by 0.09% at $684.84. Meanwhile, safe-haven seeking lifted gold-linked names and bearish semiconductor products, suggesting a cautious stance as traders digested softer U.S. jobs data and lingering concerns about chip‐sector demand.
Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.48%.
USD/CNH was flat at 6.81; USD/HKD rose 0.00%, at 7.84.
U.S. Dollar Index rose 0.05%, at 100.90.
WTI crude futures fell 0.31%, at 68.48 USD/bbl; COMEX gold futures rose 0.30%, at 4,137.90 USD/oz.
Top News
1. Apple is preparing at least five new iPhone models, including its first foldable device, lifting production targets. Suppliers have been asked to allocate parts for roughly 10 million foldable iPhones and 80 million total handsets, indicating an aggressive refresh cycle. The plan reinforced Apple’s bargaining power in key component markets and supported a sharp share-price gain.
2. Tesla delivered 480,126 vehicles in the second quarter, beating consensus but its shares fell over 5% as investors “sold the news.” The record tally reflected rebounding European demand and steady U.S. sales despite tax-credit headwinds. Market focus now shifts to the July earnings release and progress on AI and robotaxi initiatives.
3. Rivian raised its 2026 delivery outlook to 65,000–70,000 vehicles, sending the stock up more than 14%. Strong orders for new R2 SUVs and sustained demand for delivery vans underpinned the upgrade. The company must now ramp production to meet an ambitious second-half target of about 45,000 vehicles.
4. Meta Platforms is exploring a dedicated “AI cloud” business to rent excess computing power, but analysts warn of capacity constraints. The initiative could monetize Meta’s multibillion-dollar AI investments, yet questions remain about available hardware and potential competition with partners. Shares initially rallied on the news before flattening as feasibility concerns emerged.
5. SoftBank unveiled plans for “SB Neo,” a U.S.-based neocloud venture aimed at supplying large-scale AI computing resources. The project targets a 10-gigawatt infrastructure footprint to serve hyperscalers and enterprises. The announcement underscores intensifying competition in the rapidly growing AI infrastructure market.
6. Micron committed $250 million to government-backed “Trump Accounts” for children, but the stock declined amid a broader chip sell-off. The investment seeks to amplify tax-advantaged savings for minors while strengthening Micron’s domestic profile. Despite the pledge, sector-wide weakness dragged shares lower.
7. U.S. regulators closed a multi-year probe into unintended braking on nearly 700,000 Tesla Model 3 and Model Y vehicles. The National Highway Traffic Safety Administration cited software updates and fewer complaints as reasons for ending the investigation, removing a regulatory overhang for the automaker.
8. June U.S. nonfarm payrolls increased by only 57,000, well below forecasts, prompting a reassessment of Federal Reserve rate-hike odds. The unemployment rate surprisingly dipped to 4.2%, yet softer job creation pushed Treasury yields lower and reduced market-implied chances of additional tightening.
9. Spot gold rallied 2.4% and silver gained 3.7% as investors sought safety following the weak jobs data. Declining short-term yields and fading rate-hike expectations improved the appeal of precious metals. Gold’s strength comes despite a mildly firmer dollar, suggesting heightened demand for inflation hedges.
10. Mizuho Securities added Robinhood, Micron, EyePoint, Erasca and Encompass Health to its July “top picks” list, citing growth catalysts. Analysts highlighted Robinhood’s product expansion and Micron’s AI-driven memory demand, assigning Outperform ratings and lofty price targets. The endorsements contributed to noticeable share-price swings during the session.
Sources: Reuters, Dow Jones, Tiger Newspress, MT Newswires Live, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
