01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.09% at 51,666.84; S&P 500 declined 1.44% at 7,365.46; NASDAQ declined 2.21% at 25,587.04. A profit-taking wave swept through Wall Street, with memory-chip and high-growth names leading losses and weighing heavily on the tech-laden NASDAQ.
Semiconductor-related stocks saw the sharpest swings, led by leveraged funds and memory names. Bearish fund Direxion Daily Semiconductors Bear 3x Shares (SOXS) surged 23.83% at $4.04, while its bullish counterpart Direxion Daily Semiconductors Bull 3x Shares (SOXL) fell 23.06% at $231.42. Among chipmakers, Micron Technology (MU) declined 13.18% at $1,051.77, SanDisk (SNDK) fell 13.64% at $1,963.60, Western Digital (WDC) slipped 8.45% at $670.75, and Marvell Technology (MRVL) lost 9.36% at $279.04. Graphics leader NVIDIA (NVDA) retreated 4.13% at $200.04, while rival Intel (INTC) dropped 6.14% at $132.28, reflecting broad scepticism toward the AI-driven memory boom.
Beyond chips, moves were mixed among megacaps and thematic leaders. Electric-vehicle giant Tesla (TSLA) fell 5.79% at $381.61, and foundry heavyweight Taiwan Semiconductor (TSM) weakened 6.69% at $436.39. Chip designer Advanced Micro Devices (AMD) lost 5.76% at $519.85, while cloud-software favorite Palantir (PLTR) slipped 2.34% at $116.70. In contrast, Microsoft (MSFT) gained 1.80% at $373.94, offering some resilience, though Apple (AAPL) inched down 0.91% at $294.30. The day’s skewed performance underlines how concentrated selling pressure in semiconductors can reverberate across the broader growth universe.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.49%. USD/CNH rose 0.14%, at 6.83; USD/HKD rose 0.0004%, at 7.84. U.S. Dollar Index rose 0.01%, at 101.37. WTI crude futures fell 0.34%, at 72.96 USD/bbl; COMEX gold futures fell 0.74%, at 4,118.60 USD/oz.
03 Top News
1. S&P Dow Jones Indices will add Alphabet to the Dow Jones Industrial Average, removing Verizon. The reshuffle, effective before the market open later this month, boosts the Dow’s exposure to diversified technology services. Index managers said Verizon’s low share price reduced its weight in the price-weighted benchmark.
2. Honeywell Aerospace, a newly announced Honeywell International spinoff, is set to join the S&P 500, replacing Conagra Brands. The inclusion follows S&P Dow Jones Indices’ periodic rebalancing. Market participants expect heightened visibility and passive inflows for the upcoming aerospace pure play.
3. Carnival warned that third-quarter profit will miss Wall Street expectations due to persistently higher fuel costs. The cruise operator cited nearly 30% year-over-year fuel inflation and geopolitical headwinds. Shares declined about 7% in extended trade as investors reassessed margin prospects for the coming quarter.
4. The U.S. Department of Energy approved a $17.5 billion loan program to accelerate construction of 10 next-generation nuclear reactors. The move aims to bolster domestic clean-energy capacity and reduce carbon emissions. Nuclear developers such as Oklo rallied in pre-market trading on the financing news.
5. Palantir and Zeta Global formed a strategic partnership to rebuild Zeta’s Data Cloud on Palantir’s Foundry platform. The collaboration targets “agentic marketing” solutions and could deliver over $100 million in annual revenue to Zeta. Both firms said the deal deepens their positioning in enterprise AI.
6. AMC Entertainment launched a $200 million common-stock offering to retire its 2027 senior subordinated notes. Proceeds will also bolster liquidity and fund theater upgrades. The equity sale sparked concerns over dilution, sending AMC shares tumbling more than 20% in pre-market trade.
7. The White House issued twin executive orders to accelerate U.S. leadership in quantum computing and post-quantum cybersecurity. A complementary Commerce Department initiative will channel $2 billion toward building a domestic quantum supply chain and dedicated foundry. Quantum technology firms, including IBM and several startups, posted notable share price gains following the announcement.
8. Backblaze signed a five-year, $335 million multi-exabyte storage agreement with cloud specialist CoreWeave. The deal leverages Backblaze’s HDD-based architecture to support new data tiers for AI workloads. Investors welcomed the long-term revenue visibility, propelling Backblaze shares more than 30% higher intraday.
9. SpaceX announced plans to issue its first investment-grade dollar bonds to fund AI infrastructure and repay a bridge loan. The rocket and AI company holds over $100 billion in cash and aims to expand its Colossus super-computing network. The debt move diversifies its capital structure ahead of anticipated growth investments.
10. U.S. President Donald Trump claimed Iran has agreed to “highest level” nuclear inspections as part of a nascent peace framework. Tehran refuted the assertion, stating no such agreement exists. The U.S. simultaneously eased sanctions for 60 days and kept naval forces in the Strait of Hormuz on standby.
Sources: Reuters, Dow Jones, MT Newswires, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.