Market
August 21, U.S. stocks opened on a firm footing as investors cheered upbeat tech earnings and cooler inflation signals. The Dow Jones added 0.51% to 53,026, the S&P 500 rose 0.42% to 7,673 and the Nasdaq Composite advanced 0.44% to 26,182, pointing to a broad risk-on mood across Wall Street.
MicroSectors Gold Miners 3x Leveraged ETN jumps 9.08% as bullion prices extend their advance. Coinbase Global, Inc. surges 5.86% after securing provisional approval for a federal trust bank charter. Strategy climbs 5.28% in tandem with Bitcoin strength, while Circle Internet Corp. adds 5.20% on a new stablecoin partnership. Direxion Daily Semiconductors Bull 3x Shares gains 3.06% amid chip optimism and Tesla Motors rises 1.50% on record Model Y preorder numbers. On the downside, Alibaba falls 4.74% after trimming its revenue outlook, and Direxion Daily Semiconductors Bear 3x Shares retreats 2.72%.
Zk International Group Co. Ltd. soars 12.37% on a major U.S. water-infrastructure contract, Golden Heaven Group Ltd. rallies 9.45% after winning new theme-park licenses, Canaan Inc. rises 9.14% as crypto-mining margins improve, NetEase advances 7.17% on blockbuster game downloads and Futu Holdings Limited gains 4.23% on record account growth. In contrast, Huize Holding Ltd sinks 10.86% on a surprise quarterly loss and Recon Technology slides 9.94% following a discounted share sale.
News
NVIDIA launches next-generation Blackwell-Next GPU, shares edge up 0.48%. The chipmaker said the new architecture delivers 30% higher performance for AI training workloads. Analysts see the release extending NVIDIA’s data-center dominance.
Coinbase Global, Inc. secures provisional federal trust bank charter, stock surges 5.86%. The move will let the exchange offer nationwide crypto custody and payment services, boosting revenue diversification.
Tesla Motors reports record preorders for its fourth-generation Model Y, shares gain 1.50%. Management said expanded production at its Texas Gigafactory would meet demand, underpinning confidence in second-half delivery targets.
Federal Reserve signals faster path to rate cuts, lifting risk appetite. Chair Jerome Powell told Congress inflation is moving toward target more quickly than expected, prompting traders to price in an earlier policy pivot.
Alibaba cuts full-year revenue outlook, ADR drops 4.74%. The e-commerce giant cited weaker domestic consumption and intensifying competition, prompting several analysts to trim earnings estimates.
Advanced Micro Devices unveils new enterprise AI accelerators, shares rise 1.37%. The MI500 series targets corporate data centers and positions AMD as a stronger rival to NVIDIA in the fast-growing AI infrastructure market.
Broadcom wins $3 billion AI chip supply deal with Microsoft, stock gains 1.74%. The multiyear agreement expands Broadcom’s footprint in hyperscale data centers and is expected to add nearly $1 billion to annual revenue.
Moderna, Inc. posts positive Phase 2 data for combined COVID-flu vaccine, shares climb 3.22%. Early results showed stronger immunogenicity than separate shots, paving the way for accelerated regulatory submissions.
U.S. initial jobless claims fall to a three-month low, boosting confidence in labor market. The reading surprised economists and supported expectations for steady consumer spending in the second half.
MicroSectors Gold Miners 3x Leveraged ETN jumps 9.08% as gold tops $2,300. Investors rotated into precious-metal plays amid softer dollar and geopolitical uncertainty, amplifying gains in the leveraged fund.
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