01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.09% at 51,876.11; S&P 500 fell 0.05% at 7,354.02; NASDAQ declined 0.24% at 25,297.62. A choppy session left all three benchmarks modestly lower by the closing bell, with heavier pressure on technology shares keeping the NASDAQ in the red.
Semiconductor names retreated sharply, but select megacaps and AI-linked software names bucked the trend. Memory giant Micron Technology (MU) declined 6.69% at $1,132.33, while leveraged bull fund SOXL fell 14.65% at $215.60. Chip peers also stumbled: NVIDIA (NVDA) fell 1.64% at $192.53, Marvell Technology (MRVL) declined 5.15% at $266.77, and Intel (INTC) fell 3.42% at $128.32. In contrast, software titan Microsoft (MSFT) advanced 5.71% at $372.97 after new product-pricing news, and Apple (AAPL) rose 3.14% at $283.78. AI specialist Palantir (PLTR) jumped 5.28% at $112.93, while electric-vehicle leader Tesla (TSLA) gained 1.22% at $379.71. Bearish chip proxy SOXS surged 16.80% at $4.24 as traders sought cover from the sector slide.
Broad equity ETFs echoed the day’s defensive tilt. The market-tracking SPDR S&P 500 ETF (SPY) slipped 0.72% at $728.99, while the tech-heavy Invesco QQQ (QQQ) declined 1.38% at $706.52. Leveraged products amplified moves, with ProShares UltraPro QQQ (TQQQ) down 4.16% at $71.83 and the inverse Direxion Daily Semiconductors Bear 3x Shares (SOXS) moving decisively higher. Despite pockets of strength in mega-cap software, the dominance of chip weakness kept overall gains in check.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.46%, latest at 4.37%.
USD/CNH declined 0.04%, at 6.82; USD/HKD inched up 0.02%, at 7.84.
U.S. Dollar Index slipped 0.06%, at 101.36.
WTI crude futures fell 2.34%, at 70.24 USD/bbl; COMEX gold futures rose 1.37%, at 4,103.00 USD/oz.
03 Top News
1. U.S. forces conducted air strikes on Iranian missile and drone sites. Central Command said the action responded to an earlier drone hit on a commercial vessel in the Strait of Hormuz. The move heightened regional tensions and raised fresh concerns over maritime security.
2. Washington and Tehran opened a direct communication channel in the Strait of Hormuz. Iranian state media reported the new line is meant to prevent further military escalation. Analysts view the step as a tentative de-escalation despite ongoing friction.
3. Israel and Lebanon signed a preliminary deal to halt hostilities involving Hezbollah. The agreement calls for Hezbollah to disarm and for Israeli forces to withdraw from Lebanon. Implementation details remain unclear, leaving long-term stability uncertain.
4. University of Michigan’s survey showed U.S. consumer sentiment rebounded to 49.5. While up from 44.8, respondents still cited high living costs as a key worry. Long-term inflation expectations eased to 3.3%, offering modest relief for policymakers.
5. The European Medicines Agency’s CHMP recommended approval of Eli Lilly’s leukemia drug Jaypirca. The non-covalent BTK inhibitor targets chronic lymphocytic leukemia in adults. Shares of Lilly hit a record high after the positive opinion, paving the way for formal EU authorization.
6. Quantum Cyber gained clearance to purchase a stake in SpaceX. Regulators approved the partial equity acquisition, granting the cybersecurity firm exposure to the private space pioneer. The announcement sent Quantum Cyber’s stock soaring more than 60% in pre-market trade.
7. Microsoft will raise Xbox console prices globally to offset component cost inflation. The second hike in under a year could add up to $150 per device. Investors welcomed the margin-protective move, coinciding with notable gains in Microsoft’s share price.
8. Apple increased prices on iPad and MacBook models amid rising chip expenses. Adjustments of 15%–25% signal an aggressive strategy to defend profitability. Analysts expect Apple’s ecosystem stickiness to cushion potential demand impact.
9. Micron Technology forecast record gross margins driven by acute memory shortages. Management cited surging AI data-center demand and limited industry capacity, expecting mid-80% margins this quarter. The outlook underscores ongoing supply-demand imbalances in the chip market.
10. OpenAI is considering postponing its much-anticipated initial public offering. CNBC reported the AI leader has yet to begin “test-the-waters” meetings with investors. A delay could temper near-term capital flows into AI infrastructure projects.
Sources: Reuters, MT Newswires Live, Tiger Newspress, Public Market Data
Disclaimer: This content is for reference only and does not constitute investment advice. Investors should make independent decisions based on their own judgments and risk tolerance.
