Stock Market
As of Oct 2, U.S. stock index futures performed as follows: Dow Jones futures rose 0.49%, Nasdaq 100 futures climbed 0.56%, and S&P 500 futures advanced 0.44%. The tone was constructive across the three major contracts, with tech-linked Nasdaq 100 futures leading modestly. That suggests traders were still leaning into growth exposure, even as they remained alert to company-specific earnings and supply-chain headlines.
Notable Stock Movers: Seagate Technology PLC (STX) fell 10.64%, while Western Digital (WDC) fell 7.86%, after reports said Toshiba may double HDD supply.
Nike (NKE) fell 7.68% after its latest results missed sales estimates and management projected a decline in full-year revenue.
In semiconductors, NVIDIA (NVDA) rose 1.7%, Advanced Micro Devices (AMD) rose 2.05%, Marvell Technology (MRVL) rose 2.21%, and Intel (INTC) rose 2.06%.
Among other active names, AppLovin (APP) fell 5.44%, while Apple (AAPL) rose 0.34% and Tesla rose 0.53%.
In the China-related complex, Alibaba (BABA) fell 1.51% at $105.83, Baidu (BIDU) fell 0.86% at $84.85, and JD.com (JD) fell 1.21% at $26.05. The distribution of moves points to a market still rewarding data-center and chip themes, but punishing names tied to weaker forward guidance or supply pressure.
Other Markets
• 10-year U.S. Treasury yield fell 0.31%, to 5.22%.
• U.S. Dollar Index fell 0.0098% to 102.03.
• WTI crude oil futures fell 3.62% to 89.51 USD/barrel; COMEX gold futures rose 0.19% to 4210.40 USD/ounce.
Key News
1. Seagate Technology and Western Digital fell after Toshiba was reported to be planning a bigger HDD supply push. The report raised concerns that additional hard-disk supply could pressure pricing and margins in the storage market. The move came as both stocks were already sensitive to shifts in enterprise demand and supply expectations.
2. Nike reported weaker-than-expected quarterly sales and guided to a lower full-year revenue path. The company said first-quarter revenue came in below estimates, and management projected revenue will decline by a high-single-digit percentage in the next fiscal year. That combination reinforced worries about slower demand and continued supply-chain pressure.
3. Amazon was reported to be exploring a plan to move about $8 billion of advanced Nvidia chips into a special-purpose vehicle. The proposed structure would let Amazon lease the chips back while potentially reducing balance-sheet intensity. The report highlighted how cloud providers are looking for more flexible ways to finance AI infrastructure.
4. Broadcom was reported to be assembling $60 billion in financing tied to AI chips for Anthropic and other customers. The package would include senior-secured and junior-debt tranches, according to the report. It underscores how capital markets are being used to fund the buildout of AI compute capacity.
5. The European Union was reported to be finalizing an investigation that could bring Azure and AWS under its tech rules. The inquiry would determine whether the cloud platforms meet the threshold for additional regulatory oversight. If the rules apply, both services could face stricter compliance requirements in Europe.
6. NVIDIA said it is looking into a report linking Blackwell chip purchases to Chinese state-backed financing. The report said the financing involved servers equipped with NVIDIA chips and raised possible export-control questions. NVIDIA said it would work with its OEM customer to investigate the matter.
7. Huawei and Seres signed a new five-year cooperation agreement to upgrade the Aito business. The companies said they will set up a dedicated Aito team and improve customer service through specialized operations. The agreement deepens their partnership and supports Aito’s positioning as a premium smart-vehicle brand.
8. U.S. labor-market watchers said the upcoming employment report is expected to show slower hiring but stable unemployment. Economists forecast a modest pace of job creation, which would fit the recent low-hire, low-fire pattern. The report is likely to shape expectations for future Federal Reserve policy.
9. The Pentagon was reported to be sending additional forces to the Middle East. The move includes another aircraft-carrier strike group and a Marine expeditionary unit, increasing the U.S. military presence in the region. The buildup comes as shipping risks remain elevated in the Strait of Hormuz.
10. European officials were reported to be weighing rules that would expand cloud-service oversight. The action could have broad implications for major infrastructure providers serving enterprise customers. It adds another regulatory layer to an industry already facing scrutiny over data, competition, and market access.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
