01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.70% at 51,202.26; S&P 500 up 0.50% at 7,431.46; NASDAQ up 0.31% at 25,888.84. A second straight day of gains came as investors digested a busy slate of corporate headlines, a blockbuster space-industry IPO and persistent optimism over artificial-intelligence spending. All three benchmarks ended near session highs, supported by strength in select technology and semiconductor names, even as energy shares lagged.
Semiconductors and space-related listings dominated the session’s unusual moves. Newly listed SpaceX (SPCX) jumped 19.22% at $160.95, vaulting the company’s market value past the $2 trillion mark. Chip bellwether Intel (INTC) climbed 6.51% at $124.57 after an analyst double-upgrade, while leveraged ETF SOXL rose 4.77% at $234.68 and Advanced Micro Devices (AMD) added 4.73% at $511.57 on fresh GPU optimism. Smartphone-chip designer ARM Holdings (ARM) surged 11.27% at $380.81. Meanwhile, electric-vehicle heavyweight Tesla (TSLA) advanced 1.82% at $406.43, and NVIDIA (NVDA) edged up 0.16% at $205.19. On the downside, Apple (AAPL) declined 1.52% at $291.13, while Adobe (ADBE) fell 6.76% at $204.02 following a guidance cut.
Momentum remained centered on AI hardware, IPO enthusiasm and selective profit-taking. Investors rotated toward high-growth chip makers and newly public names, offsetting softness in some megacaps. The space and semiconductor themes continued to capture inflows as traders positioned for sustained demand in next-generation computing. Still, profit warnings in software and pockets of weakness in consumer technology reminded markets that elevated valuations remain sensitive to earnings surprises.
02 Other Markets
The U.S. 10-year Treasury yield rose by 0.45%, latest at 4.49%. USD/CNH rose 0.10%, at 6.81; USD/HKD fell 0.0094%, at 7.84. U.S. Dollar Index rose 0.10%, at 99.80. WTI crude futures fell 3.90%, at 84.29 USD/bbl; COMEX gold futures rose 3.06%, at 4,239.90 USD/oz.
03 Top News
1. SpaceX shares soared 19% in their Nasdaq debut, lifting the company’s valuation above $2 trillion. The record-setting IPO saw more than 510 million shares trade hands, making SpaceX the sixth-largest U.S. company by market value. Analysts cautioned that the small free float could fuel near-term volatility even as investors celebrate the milestone.
2. Elon Musk became the world’s first trillionaire on paper following the SpaceX listing. Musk’s stake in the rocket and satellite company is now worth roughly $690 billion at the IPO price, dwarfing his sizable Tesla holdings. His net worth will fluctuate with post-IPO trading in both companies.
3. U.S. banking regulators have intensified examinations of artificial-intelligence use across financial institutions. The Office of the Comptroller of the Currency and the Federal Reserve are asking lenders for detailed mappings of AI applications, vendor controls and “kill-switch” safeguards. The move signals heightened oversight amid concerns about data privacy, model risk and third-party dependencies.
4. Sharon AI announced a six-year strategic partnership with Nvidia to deploy up to 40,000 Grace Blackwell GPUs in Australia. The revenue-sharing deal will add 72 MW of data-center capacity, expanding Sharon AI’s total “AI factory” footprint to 132 MW. Nvidia gains hardware sales now and a slice of future cloud revenue, while Sharon AI targets more than 55,000 GPUs in service by mid-2027.
5. Adobe cut its full-year revenue guidance, sending its shares down sharply. Management cited softer enterprise demand for digital-media tools, prompting analysts to trim price targets. The warning rippled across the broader cloud-software sector, weighing on peer valuations.
6. Tesla secured regulatory approval to launch a Full Self-Driving beta on European roads. Authorities in Germany and the Netherlands cleared a limited pilot, potentially unlocking new software-based revenue streams. The nod could accelerate Tesla’s rollout of advanced autonomous features across the continent.
7. Kingsoft Cloud plans to raise prices for AI compute and storage services by up to 50%. The adjustment, effective in mid-July, reflects global demand for high-performance chips and rising hardware costs. Existing customer contracts remain unchanged until their current billing cycles end.
8. Citi upgraded Advanced Micro Devices to Buy, highlighting significant GPU sales potential. Analysts argue investors underestimate AMD’s opportunity to capture market share as a credible alternative to Nvidia, particularly with major customers such as Meta. The new price target was lifted to $575.
9. Bank of America upgraded Williams-Sonoma to Buy, calling it a “rare, quality compounder.” The firm expects the home-furnishings retailer to keep gaining market share despite soft luxury demand and pressures on lower-income consumers, citing strong demographics and operational efficiency.
10. Wells Fargo initiated coverage of Coca-Cola Europacific Partners with an Overweight rating. Analysts cited robust pricing power and a resilient profit algorithm that is expected to withstand an extended inflation cycle through 2027, assigning a $110 price target to the bottler.
Sources: Reuters, Dow Jones, Tiger Newspress, Thomson Reuters, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
