The benchmark S&P 500 and the tech-heavy Nasdaq rose modestly to record closing highs for a second straight day on Thursday on optimism that the worst of the Middle East conflict had passed after Israel agreed to a temporary ceasefire with Lebanon and U.S. President Donald Trump indicated the U.S. and Iran could meet again on the weekend.
01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.24% at 48,578.72; S&P 500 up 0.26% at 7,041.28; NASDAQ up 0.36% at 24,102.70. A modest rebound across large-cap technology shares helped all three gauges finish higher, extending the prior session’s record-setting trend despite lingering geopolitical and policy uncertainties.
Chipmakers and AI-linked names dominated the day’s unusual moves. Advanced Micro Devices (AMD) jumped 7.80% to $278.26 after upbeat demand signals for its latest accelerators, while Oracle (ORCL) gained 5.02% to $178.34 on plans to deepen multicloud ties with AWS. Optical specialist Lumentum (LITE) rallied 8.16% to $891.22 on sector strength, and space launch firm Rocket Lab USA (RKLB) soared 12.68% to $82.93. Quantum computing play IONQ (IONQ) advanced 3.31% to $44.68, whereas foundry giant Taiwan Semiconductor Manufacturing (TSM) fell 3.13% to $363.35 even after record earnings. In software, Microsoft (MSFT) rose 2.20% to $420.26, mirroring broad enthusiasm for AI integration.
Consumer-oriented movers were mixed. Tele-health platform Hims & Hers Health (HIMS) jumped 11.12% to $26.99 amid prospects for looser peptide prescription rules, while EV bellwether Tesla (TSLA) declined 0.78% to $388.90 ahead of next week’s earnings. Apple (AAPL) slipped 1.14% to $263.40 despite optimistic analyst calls on its AI-enabled iPhone cycle.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.10%, latest at 4.31%.
USD/CNH fell 0.0422%, at 6.86; USD/HKD rose 0.0036%, at 7.83.
U.S. Dollar Index fell 0.0244%, at 98.18.
WTI crude futures fell 1.67%, at 89.65 USD/bbl; COMEX gold futures rose 0.14%, at 4,815.00 USD/oz.
03 Top News
1. TSMC lifted its 2026 revenue outlook after a 58% jump in quarterly profit. The world’s largest contract chipmaker said booming demand for AI processors drove record earnings. Management plans higher capital spending to expand advanced-node capacity.
2. AMD extended its winning streak to a 12th session, marking its longest run since 2005. The stock’s rise reflects investor confidence in the company’s competitive positioning in data-center and AI chips. Momentum followed sector-wide optimism after strong peer results.
3. Oracle announced an expanded multicloud partnership with AWS to link their high-performance interconnects. The move will give enterprise clients faster, private connections between Oracle Cloud Infrastructure and AWS. Shares climbed as investors welcomed the strategy to capture hybrid cloud demand.
4. Alcoa reported a 5% drop in first-quarter sales as Middle East conflict disrupted alumina supply chains. Rerouting cargo via China increased costs and pressured prices, prompting the company to warn of continued headwinds through mid-year. Shares fell on the outlook.
5. Netflix beat first-quarter earnings expectations but issued cautious second-quarter guidance and announced Chair Reed Hastings’ departure. A one-off breakup fee boosted EPS, yet management flagged higher content amortization costs ahead. The stock slid in after-hours trade as investors digested the mixed update.
6. Allbirds rebranded to “NewBird AI” and planned a $50 million GPU-leasing venture, triggering a dramatic share swing. After a one-day surge of nearly 600%, the stock plunged 30% as analysts questioned the company’s lack of data-center assets or technical expertise, citing echoes of past speculative manias.
7. U.S. initial jobless claims fell by 11,000 to 207,000, signaling a resilient labor market. Continuing claims edged up but remained historically low, while economists noted that Middle East-related oil price shocks could temper future hiring momentum.
8. Aehr Test Systems secured a record $41 million order for high-power AI chip burn-in systems from a hyperscale customer. The booking pushes second-half orders above guidance and validates the firm’s new Sonoma platform. Management highlighted robust demand across AI and power-semiconductor markets.
9. Nvidia CEO Jensen Huang downplayed fears that AI poses “nuclear-level” risks, criticizing excessive export curbs. Huang argued that overstating AI dangers could stifle U.S. innovation and talent, noting China can still access adequate compute capacity from older chips to advance its own AI ambitions.
10. Raymond James upgraded Okta to outperform, citing an attractive risk-reward as AI adoption accelerates identity-security needs. The brokerage sees agent-based workloads expanding Okta’s addressable market significantly. Shares responded with notable gains during the session.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
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