01 Stock Market
The U.S. major indexes closed as follows: the Dow Jones Industrial Average up 0.11% at 49,071.56; the S&P 500 down 0.13% at 6,969.01; and the Nasdaq Composite down 0.72% at 23,685.12.
Big tech and AI-linked names showed unusual moves as earnings and AI spending recalibrated expectations. Microsoft down 9.99% at $433.50; Meta Platforms up 10.40% at $738.31; Nvidia up 0.52% at $192.51; Apple up 0.72% at $258.28; Alphabet up 0.71% at $338.66; Oracle down 2.19% at $169.01; Palantir down 3.49% at $151.86; Intel down 0.25% at $48.66; AMD down 0.22% at $252.18; Invesco QQQ down 0.60% at $629.43; SPDR S&P 500 down 0.20% at $694.04.
Moves extended across thematic funds and storage names. Western Digital down 0.46% at $278.41; Global X Copper Miners ETF up 2.45% at $94.23; SPDR Gold ETF up 0.27% at $495.90; ProShares Ultra Gold up 0.49% at $85.62; ProShares Ultra Silver down 0.25% at $399.45; Direxion Daily Semiconductors Bull 3X up 0.54% at $70.47; ProShares UltraPro QQQ down 1.79% at $56.04.
02 Other Markets
U.S. 10-year Treasury yield was unchanged by 0.00%, latest at 4.23.
USD/CNH was unchanged 0.0000%, at 6.95; USD/HKD rose 0.0051%, at 7.81.
U.S. Dollar Index fell 0.0042%, at 96.15.
WTI crude futures rose 0.31%, at 65.62 USD/bbl; COMEX gold futures rose 1.71%, at 5,446.10 USD/oz.
03 Top News
Apple reported revenue and profit above expectations, driven by iPhone demand and a rebound in Greater China. The company posted quarterly revenue of $143.8 billion and EPS of $2.84, with iPhone revenue at $85.27 billion. Sales in Greater China jumped to $25.53 billion, and services reached a record $30.01 billion; shares edged up. Apple also acquired AI startup Q.ai for about $1.6 billion, bolstering its AI capabilities.
Microsoft emphasized internal AI R&D over near-term Azure capacity, contributing to a steep post-earnings share decline. Management indicated Azure grew about 38% and is prioritizing GPUs for internal AI work to enhance long-term monetization. The market reaction erased roughly $357 billion in value; the stock closed down 9.99% at $433.50 as investors weighed timing of Copilot and model monetization.
Sandisk posted surging profit and revenue, and issued bullish guidance on AI-driven storage demand. Profit was $803 million with adjusted EPS of $6.20 on revenue of $3.03 billion, all above guidance. The company projected next-quarter revenue of $4.4–$4.8 billion and adjusted EPS of $12–$14, and extended its Kioxia joint venture to 2034 with payments near $1.17 billion; shares jumped 15% in extended trading.
Western Digital guided revenue and EPS above consensus as AI server storage demand accelerates. The company expects adjusted revenue of about $3.2 billion (±$100 million) and adjusted EPS around $2.30 (±$0.15). Second-quarter revenue was $3.02 billion, with shares up after-hours as hyperscaler orders and pricing dynamics remain favorable.
KLA delivered higher profit and revenue, but shares dipped as investors parsed guidance and sector setup. Net income reached $1.15 billion (EPS $8.68), adjusted EPS $8.85 on revenue of $3.3 billion. The company guided next-quarter revenue to $3.2–$3.5 billion and adjusted EPS to $8.30–$9.86; shares fell around 8% despite services strength.
SpaceX is weighing a merger with Tesla or xAI ahead of a blockbuster listing, exploring ways to consolidate Musk’s ecosystem. A tie-up could leverage Tesla energy storage and AI robotics and integrate xAI compute via SpaceX’s envisioned orbital data centers. The IPO could seek up to $50 billion, with valuation near $1.5 trillion; Tesla shares rose about 4% on the merger chatter.
Deckers Outdoor raised full-year sales and EPS outlook on strong Hoka and UGG demand, lifting its shares. Quarterly sales were $1.96 billion, with Hoka up 18.5% and UGG up 4.9%, and EPS at $3.33. The company now targets annual sales of $5.40–$5.42 billion and EPS of $6.80–$6.85, sending shares up double digits in extended trading.
Mastercard reported higher Q4 profit and revenue as transaction volumes and cross-border spending grew. Net income rose to $4.06 billion (EPS $4.52) and net revenue reached $8.81 billion. Gross dollar volume advanced 7% and cross-border volume climbed 14%.
Royal Caribbean forecast annual profit above expectations, supported by higher fares and onboard spending by affluent travelers. Management sees continued strength in bookings and spending, underpinning improved profitability. Shares surged about 16% as investors rewarded the stronger outlook.
Lockheed Martin projected profit and revenue above expectations amid sustained demand for jets and weapon systems. The company anticipates continued backlog and deliveries as geopolitical risk supports orders. Shares rose about 6% on the improved forecast.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
