01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 1.07% at 49,526.17; S&P 500 declined 1.24% at 7,408.50; NASDAQ declined 1.54% at 26,225.15. Rising bond yields and fresh profit-taking in technology shares weighed on the broader market, leaving all three benchmarks firmly in the red by the closing bell.
Large swings in semiconductor and megacap names defined the session. Micron Technology fell 6.62% at $724.66, Nvidia fell 4.42% at $225.32, Intel fell 6.18% at $108.77, and Advanced Micro Devices fell 5.69% at $424.10, underscoring pressure across the chip complex. Tesla fell 4.75% at $422.24, while leveraged bearish fund Direxion Daily Semiconductors Bear 3x Shares rose 11.61% at $9.23 as traders rotated toward defensive hedges. In contrast, Microsoft rose 3.05% at $421.92 on news of a prominent hedge-fund stake, and Apple rose 0.68% at $300.23 amid relative strength in select megacaps. Precious-metals proxy ProShares Ultra Silver fell 17.62% at $117.10 as bullion prices retreated.
Overall, the day’s tape reflected a flight to safety alongside heightened volatility in rate-sensitive growth sectors. The pronounced divergence between a handful of winning defensives and broad technology weakness suggests investors are recalibrating positions ahead of upcoming data releases and corporate events, keeping short-term trading conditions choppy.
02 Other Markets
U.S. 10-year Treasury yield rose 3.05%, latest at 4.59%.
USD/CNH rose 0.21%, at 6.85; USD/HKD declined 0.03%, at 7.83.
U.S. Dollar Index rose 0.41%, at 99.27.
WTI crude futures rose 4.37%, at 101.16 USD/bbl; COMEX gold futures fell 3.02%, at 4,543.60 USD/oz.
03 Top News
1. Pershing Square reveals a multibillion-dollar stake in Microsoft. Bill Ackman calls the software giant “highly compelling” after the recent pullback. The activist investor says Azure and M365 position the company at the heart of corporate AI demand.
2. Alphabet concludes a record ¥576.5 billion yen-denominated bond sale. The transaction becomes the largest by a non-Japanese issuer, with proceeds earmarked for data-center and AI infrastructure. Robust demand allowed attractive pricing only 50 bp above mid-swaps.
3. Gemini Space Station secures a $100 million investment from the Winklevoss twins. The capital injection was made through Winklevoss Capital using Bitcoin as consideration. Funds will accelerate expansion of the crypto and prediction-market platform.
4. Cerebras completes an explosive IPO, initially soaring 68% to a $100 billion valuation. Early enthusiasm for its AI-focused “wafer-scale” chips drew intense demand. Shares later pulled back as analysts flagged manufacturing and valuation risks.
5. Figma lifts its full-year revenue forecast on surging demand for AI design tools. Management cites rapid enterprise adoption and improved conversion of free users to paid tiers. The upbeat outlook propelled the stock more than 12% higher intraday.
6. U.S. Senate confirms Kevin Warsh as the next Federal Reserve Chair. The former Fed governor promises “regime change” and faster decision-making at the central bank. Markets anticipate early tests of his independence amid political pressure for rate cuts.
7. Alphabet schedules its annual developer conference to showcase next-generation Gemini AI products. The keynote will highlight deeper integration of large-language models across search, operating systems, and wearables. Investors expect the announcements to reinforce the company’s competitive edge in artificial intelligence.
8. Cerebras discloses a $20 billion cloud contract with OpenAI in its sales backlog. The exclusive deal underpins a total backlog of $24.6 billion, though analysts note clauses that could limit wider customer adoption. The company aims to recognize roughly $3.7 billion of this revenue over the next two years.
9. The “Magnificent Seven” tech titans and Oracle plan to spend about $820 billion on capital projects in 2026. Nearly half of the outlay targets energy-intensive AI data-center buildouts. Economists warn the surge in demand for power and critical minerals could tighten global commodity supplies.
10. Microsoft restructures its partnership with OpenAI toward a more open, multi-model framework. Observers say the shift reduces exclusivity but broadens enterprise appeal. The move aligns with the company’s $190 billion capital-spending plan to deepen AI capabilities.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.