Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.70% at 53,185.90; S&P 500 fell 0.33% at 7,686.14; NASDAQ slipped 0.12% at 26,370.89. Heightened geopolitical risks in the Middle East and firm energy prices weighed on sentiment, pulling all three benchmarks modestly lower and trimming August’s late-month rally.
Stand-out movers were concentrated in big-ticket tech and thematic ETFs. Among the day’s most-active names, Tesla (TSLA) jumped 5.51% at $367.95, while NVIDIA (NVDA) added 1.48% at $220.78.
Memory specialist Micron Technology (MU) advanced 2.77% at $958.73, and storage maker SanDisk (SNDK) climbed 5.50% at $1,566.70. Leveraged semiconductor fund SOXL edged up 1.30% at $112.79, contrasting with inverse peer SOXS, which fell 1.61% at $49.02.
On the downside, megacap Apple (AAPL) declined 0.89% at $316.85, while Amazon.com (AMZN) retreated 2.50% at $259.77 and Alphabet (GOOG) slipped 2.18% at $335.41 amid fresh regulatory scrutiny.
Overall, the pullback reflects a rotation from growth leaders toward energy and defensive assets. Chipmakers still found buyers as investors bet on structural AI demand, but profit-taking in several heavyweight technology shares capped broader gains. Lingering uncertainty over Fed policy and rising oil prices kept risk appetite subdued, leaving indices range-bound ahead of key economic releases later this week.
Other Markets
U.S. 10-year Treasury yield was unchanged, latest at 4.76%. USD/CNH rose 0.01%, at 6.78; USD/HKD fell 0.001%, at 7.84. U.S. Dollar Index rose 0.04%, at 99.44. WTI crude futures rose 0.77%, at 86.42 USD/bbl; COMEX gold futures rose 0.31%, at 4,495.20 USD/oz.
Top News
1. ExxonMobil is reportedly preparing to re-enter Venezuela’s oil sector as U.S. policy shifts. Former President Donald Trump told reporters that major U.S. producers intend to invest in the OPEC nation following political changes there. Exxon exited Venezuela nearly two decades ago after asset nationalizations.
2. An Iranian news outlet reported that a Saudi oil tanker was halted in the Strait of Hormuz by Iranian forces. The United Kingdom Maritime Trade Operations agency confirmed an incident involving a tanker and military units in the region. Saudi authorities have not yet commented on the report.
3. Eli Lilly will acquire Merida Biosciences for up to $2.875 billion to expand its immunology pipeline. The cash deal underscores Big Pharma’s appetite for innovative biotech assets. Anticipation of further consolidation lifted a major biotech ETF during the session.
4. Rising oil prices and Middle-East tensions dragged U.S. equities lower while boosting Treasury yields. The conflict near the Strait of Hormuz pushed oil up nearly 3% and lifted the 10-year yield toward 4.76%. Higher energy prices rekindled concerns about inflation and potential Federal Reserve tightening.
5. Brent crude closed above $90 per barrel for the first time in a week amid renewed U.S.–Iran hostilities. West Texas Intermediate also jumped to around $86 as markets assessed potential supply disruptions. Analysts warned that every uptick in crude could fuel expectations for another rate hike.
6. Dell Technologies could see upside from Nvidia’s $500 billion AI financing initiative and SpaceX’s data-center ambitions, analysts say. Mizuho highlighted rising demand for AI-optimized servers that integrate Nvidia chips. Dell’s earnings, due this week, are expected to show robust growth in its infrastructure solutions group.
7. The Federal Trade Commission and 22 states filed an antitrust lawsuit accusing Amazon of inflating ad prices. Regulators allege the e-commerce giant’s ad auctions overcharged more than a million sellers, funneling billions in extra fees to the company. Amazon disputes the claims, arguing its auction process benefits advertisers and consumers.
8. Morgan Stanley warns Broadcom faces a “very high investor bar” ahead of its fiscal third-quarter results. While confident in the firm’s long-term AI revenue goals, analysts cautioned that merely solid numbers might disappoint in light of lofty expectations. Shares hovered near record highs despite the note of caution.
9. Apple confirmed CEO Tim Cook will hand the reins to hardware chief John Ternus, ending a 15-year tenure. Under Cook, Apple’s stock delivered an annualized return above 23%, outpacing major indices. Investors are watching closely for strategic shifts under the incoming leadership.
10. NVIDIA announced a $3.5 billion convertible-bond investment in Taiwan’s MediaTek to deepen AI chip collaboration. MediaTek will integrate NVIDIA’s NVLink Fusion and NVHBM technologies into its data-center solutions, challenging other semiconductor heavyweights. The partnership broadens NVIDIA’s ecosystem and may accelerate customized AI hardware adoption.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
