Stock Market
As of Jul 9, U.S. stock index futures performed as follows: Dow futures inched lower by 0.06%, while S&P 500 futures firmed 0.20% and Nasdaq 100 futures advanced a robust 0.77%, suggesting a rotation back into growth and semiconductor leaders ahead of the opening bell despite lingering macro-political uncertainties.
Notable Stock Movers: Micron (MU up 5.93% at $1005.09) extended its memory-chip rebound, joined by fellow semiconductor levered ETF Direxion Daily Semiconductors (SOXL up 12.60% at $196.85). Intel (INTC up 4.64% at $115.35) and Advanced Micro Devices (AMD up 3.31% at $534.55) pushed higher amid fresh demand forecasts, while NVIDIA (NVDA up 0.75% at $205.65) continued its recovery. Western Digital (WDC up 4.91% at $577.30) and Taiwan Semiconductor (TSM up 1.30% at $442.64) also gained on optimism toward capacity expansion.
In mega-cap space, Meta Platforms (META fell 3.83% to $580.00) and Microsoft (MSFT fell 1.69% to $376.88) slipped on mixed sentiment.
Context: The semiconductor complex is benefitting from upbeat guidance on memory demand, intensified AI investment, and corporate road maps for advanced chips. Conversely, select software and social-media names face margin and regulatory questions. Traders are parsing today’s packed corporate headlines and geopolitical developments as they recalibrate positions for the next leg of earnings season.
Other Markets
• 10-year U.S. Treasury yield rose 0.35%, to 4.58%.
• U.S. Dollar Index fell 0.0891% to 100.96.
• WTI crude oil futures rose 0.63% to 73.98 USD/barrel; COMEX gold futures rose 0.90% to 4 119.20 USD/ounce.
Key News
1. Iran’s Revolutionary Guard asserted control over the Strait of Hormuz, activating air-defence systems amid reported explosions at Bandar Abbas port. The force said shipping lanes are reopening gradually, restoring about half of pre-conflict transit capacity. Heightened tensions in the vital oil corridor kept energy traders on alert for potential supply disruptions and added a geopolitical risk premium to crude prices.
2. Meta Platforms will begin volume production of its custom “Iris” artificial-intelligence chip this September to double data-center computing power to 14 gigawatts next year. An internal memo cited by Reuters says the in-house silicon, co-designed with Broadcom and manufactured by Taiwan Semiconductor, targets lower AI-compute costs and reduced reliance on third-party GPUs. Meta plans a new chip generation every six months through 2027.
3. Tesla approved the final design of its Optimus Gen3 humanoid robot and ordered suppliers to reach 2 000–2 500 units per week by year-end. Procurement guidance calls for 1 000 units weekly output by September, laying groundwork for potential annual production near 100 000 robots. The move signals Tesla’s transition from R&D to commercial scale in robotics after three years of development.
4. PepsiCo topped second-quarter revenue forecasts, citing robust global demand for zero-sugar beverages while maintaining full-year guidance. Sales grew 6.4% to $24.18 billion and core EPS hit $2.20. Management noted tightening consumer budgets in North America but reaffirmed expectations for 2%–4% organic revenue and 4%–6% core EPS growth in the current fiscal year.
5. Alnylam Pharmaceuticals surged pre-market as a rival therapy from AstraZeneca and Ionis failed its Phase III trial in transthyretin cardiomyopathy. The competitor’s setback eases pricing and market-share pressure on Alnylam’s approved RNA-interference drug, reinforcing its commercial runway in a multibillion-dollar rare-disease franchise.
6. CFTC Chairman Michael Selig described Bitcoin as “anti-fragile” and urged lawmakers to pass the CLARITY Act to provide sharper regulatory guidelines. The remarks underscore a potential shift toward clearer federal oversight of digital assets, a development closely watched by crypto-linked U.S. equities and exchanges seeking regulatory certainty.
7. Ark Invest acquired about $27 million in additional SpaceX shares while trimming its Advanced Micro Devices stake across multiple ETFs. The purchase followed Starlink’s decision to raise aviation service prices, reinforcing Ark’s conviction in SpaceX’s monetization strategy, while the AMD reduction reflects tactical rebalancing amid semiconductor volatility.
8. A Financial Times report flagged possible Democratic scrutiny of Palantir’s federal contracts, knocking the data-analytics firm’s shares from a seven-session rebound. Analysts warn heightened political attention could complicate future government deals, though the company emphasized its two-decade record of bipartisan cooperation in national-security projects.
9. Chinese memory specialist GigaDevice projected first-half net profit to soar about 1099%, driven by a 177% revenue jump to roughly ¥11.5 billion. The blockbuster outlook highlights resurgent demand for flash and microcontroller products, echoing stronger sentiment that has lifted U.S. peers such as Micron and Western Digital in pre-market trade.
10. A Cantor Fitzgerald-sponsored SPAC and Bitcoin miner BSTR agreed to renegotiate terms of their planned merger amid tougher crypto financing conditions. Both parties scrapped the initial deal structure and will pursue revised terms, illustrating the funding headwinds confronting digital-asset infrastructure firms despite long-term growth expectations.
Sources: Reuters, Dow Jones, Tiger Newspress, Benzinga, MT Newswires Live, public market data
Disclaimer: For informational purposes only; not investment advice.
