01 Stock Market
The U.S. major indexes closed as follows: Dow Jones fell 1.09% at 52,348.39; S&P 500 declined 0.28% at 7,482.71; NASDAQ rose 0.20% at 25,870.65. A late-session defensive bid for tech titans cushioned the NASDAQ, but the broader market struggled to shake off energy-driven inflation worries and Middle East-related headlines, leaving blue chips under pressure.
Chip-centric movers set the pace for an otherwise mixed session. Alibaba (BABA) up 11.05% at $108.98 powered Chinese ADR strength, while NVIDIA (NVDA) up 3.65% at $204.12 and Broadcom (AVGO) up 4.83% at $388.69 extended semiconductor momentum. Leveraged fund SOXL up 5.77% at $174.82 rode the rally, contrasting with inverse peer SOXS down 6.25% at $4.50. Memory names were active: Micron (MU) up 1.11% at $948.80 and SanDisk (SNDK) up 6.77% at $1,727.18. Mega-caps were divided, with Apple (AAPL) up 0.88% at $313.39 but Tesla (TSLA) fell 2.19% at $394.06.
Investors digested a tug-of-war between robust tech optimism and macro-driven caution. Solid gains among high-growth chipmakers highlighted enduring enthusiasm for AI and cloud demand, yet hawkish rate expectations and geopolitical tension kept many cyclical names in check. The contrasting moves illustrate a market recalibrating around sector-specific catalysts against a backdrop of elevated headline risk.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.00%, latest at 4.57%. USD/CNH rose 0.07%, at 6.81; USD/HKD rose 0.00%, at 7.84. U.S. Dollar Index fell 0.02%, at 101.03. WTI crude futures rose 1.35%, at 74.51 USD/bbl; COMEX gold futures rose 0.05%, at 4,084.30 USD/oz.
03 Top News
1. SK Hynix’s planned U.S. ADR offering was more than seven times oversubscribed. Demand came from long-only, tech-focused and sovereign wealth funds, potentially raising about $24.5 billion. If priced at current Seoul levels, the deal would rank among the largest foreign listings in New York’s history.
2. The U.S. military launched fresh strikes against Iran, escalating regional tensions. Central Command said the action aimed to keep the Strait of Hormuz open, while Iranian media reported explosions in multiple cities. Oil prices jumped above $79 a barrel, reviving supply-disruption fears.
3. Tesla began production of a three-row “Model Y L” to broaden its crossover lineup. The long-wheelbase version starts near $62,000, about $4,000 above the performance trim. Analysts say the variant could boost U.S. sales, though the stock remained under pressure amid broader tech volatility.
4. Beijing will permit select Chinese AI giants to purchase limited quantities of NVIDIA’s H200 chips. Companies such as Alibaba and ByteDance have been notified of forthcoming approvals, according to media reports. The move signals a calibrated approach to balancing tech advancement with export-control constraints.
5. Apple struck a multibillion-dollar radio-frequency chip supply agreement with Broadcom. The long-term pact, valued at more than $30 billion, underpins domestic chip manufacturing and funds a $1.5 billion expansion of Broadcom’s Colorado facility. Shares of Broadcom advanced on expectations of steady revenue streams.
6. Tesla’s robotaxi program accelerated its rollout in Miami with reduced on-board supervision. Sources say vehicles are now operating with fewer safety monitors, reflecting CEO Elon Musk’s push for rapid expansion. The strategy could hasten commercialization but may invite heightened regulatory scrutiny.
7. SpaceX’s Starlink ambitions intensified competitive pressure on U.S. telecom giants. Analysts warned that resistance to network-sharing deals could prompt Starlink to build a fourth national wireless network. Price-target cuts for Verizon and AT&T reflected concerns over future broadband disruption.
8. Federal Reserve Chair Kevin Warsh signaled a shift toward shorter, less detailed FOMC minutes. Market participants expect the upcoming release to omit forward guidance and granular debate, potentially reducing clarity on rate trajectories. The streamlined approach underscores the Fed’s intent to focus on current decisions rather than future hints.
9. Former President Trump indicated the U.S. may conduct additional strikes on Iran, warning of further action if tensions persist. Iran pledged immediate retaliation, heightening geopolitical risk. Energy markets reacted with a renewed risk premium, adding to inflation concerns.
10. ResMed agreed to divest its MatrixCare software arm to Frazier Healthcare Partners for $490 million in cash. The transaction will strengthen ResMed’s balance sheet and allow it to concentrate on core respiratory and sleep-apnea businesses. Closing is expected after customary regulatory approvals.
Sources: Reuters, Dow Jones, Tiger Newspress, MT Newswires Live, public market data Disclaimer: This content is for reference only and does not constitute investment advice.