01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.10% at 51231.64; S&P 500 down 0.47% at 7765.36; NASDAQ down 1.25% at 27193.34. The Dow Jones managed a modest gain, while the S&P 500 and NASDAQ finished lower. The move reflected a softer tone in technology shares and a firmer energy backdrop.
Palantir Technologies Inc. rose 2.40% at $198.78, while NVIDIA declined 2.94% at $230.48, Advanced Micro Devices fell 3.90% at $620.68, and Broadcom declined 4.35% at $360.14. Micron Technology fell 4.79% at $1035.84, and Oracle declined 5.48% at $135.69. In the same group, Applied Optoelectronics tumbled 13.58% at $105.90 and Silicon Motion Technology fell 8.36% at $261.89.
Overall, the tape showed a split between isolated speculative strength and broader pressure on AI and semiconductor names. Several lower-priced Chinese ADRs and education-linked names posted outsized moves, but the larger impact on the session came from the decline in chip-related stocks. The weakness in those names helped keep the NASDAQ under pressure even as some individual gainers stood out.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.00%, latest at 5.23.
USD/CNH fell 0.00%, at 6.73; USD/HKD rose 0.00%, at 7.85.
U.S. Dollar Index rose 0.0098%, at 102.11.
WTI crude futures fell 0.46%, at 91.07 USD/bbl; COMEX gold futures rose 0.14%, at 4162.90 USD/oz.
03 Top News
1. Trump said the U.S. will not attack Iran before the midterm elections. The statement signaled a pause in direct military escalation, even as Washington keeps pressure on Tehran. Reuters said the two sides have also been holding discussions aimed at ending the conflict and reopening a key shipping route.
2. The U.S. imposed fresh sanctions on Iran’s shadow fleet. The Treasury Department targeted individuals, networks, and 17 vessels transporting Iranian crude and fuel products. Officials said the move is designed to cut off a major revenue stream and intensify financial pressure on Tehran.
3. CVS Health said Aetna has about 69% of Medicare Advantage members in four-star-or-better plans. The company said the government-rated plans cover a large majority of its members for the upcoming cycle. CVS also highlighted strong scores in medication review and readmissions.
4. OpenAI reportedly told investors its annualized revenue was about $20 billion below earlier projections. The report raised questions about the pace of monetization at one of the most closely watched AI companies. It also helped pressure chip and infrastructure stocks tied to AI spending expectations.
5. PepsiCo said it will cut costs with a high sense of urgency after lowering its profit outlook. Management said it is reviewing every cost and shifting resources toward growth-related areas. The company is responding to higher operating costs and a still-challenged North American food and beverage business.
6. Disney reportedly pitched its Infinity Vision premium theater format to rival studios. The company is trying to expand the format beyond its own films and into a wider industry standard. The report pressured IMAX, while Disney shares moved higher.
7. American Express was fined $350 million over anti-money-laundering shortcomings. The Treasury Department’s OCC said the firm had internal control gaps and inadequate resources in its compliance setup. The regulator also issued a cease-and-desist order, increasing legal and remediation pressure on the company.
8. Coca-Cola is reportedly exploring a sale of Costa Coffee. The company is said to be revisiting its effort to unwind the acquisition after earlier sale talks fell short of expectations. A renewed process could reshape Coca-Cola’s portfolio strategy around beverages and consumer assets.
9. Starbucks reportedly examined a takeover proposal for Chipotle Mexican Grill. The potential deal would reunite CEO Brian Niccol with the burrito chain he previously helped transform. The report lifted Chipotle and weighed on Starbucks as investors assessed strategic fit and valuation.
10. Goldman Sachs upgraded Palantir to buy as it sees growth in sovereign AI. The firm argued that government and enterprise demand for controllable AI systems could expand Palantir’s addressable market. The upgrade supported the stock even as broader tech shares weakened.
Sources: Reuters, Dow Jones, public market data --- Disclaimer: This content is for reference only and does not constitute investment advice.
Comments