Market
June 12, U.S. stocks opened on a positive footing as investors welcomed a softer inflation print and looked ahead to next week’s Federal Reserve decision. The Dow Jones rose 0.58%, the S&P 500 added 0.17%, while the Nasdaq inched up 0.01%, pointing to a cautious but constructive tone across Wall Street.
Nebius Up 4%; ASML Down 2%; Adobe falls 7.5% after cutting full-year sales guidance, dragging software peers. Marvell Technology drops 3.2% on a broker downgrade, and Micron Technology slides 3.2% as memory pricing cools. On the upside, Advanced Micro Devices gains 1.8% on strong AI server demand, Alphabet rises 1.5% after expanding Gemini AI tools, Meta Platforms, Inc. adds 1.0% on resilient digital-ad trends, and Western Digital climbs 1.3% amid breakup speculation.
Broader movers are led by Gaotu Techedu Inc. surging 8.2% on upbeat enrollment data, Burning Rock Biotech Limited up 6.2% on positive trial results, 36Kr Holdings up 6.1% after a strategic investment, Li Auto jumping 4.9% on record deliveries, KE Holdings Inc. up 3.3% as property listings rebound, and CoreWeave, Inc. advancing 3.1% on fresh funding news.
News
Adobe slashes full-year revenue guidance; shares tumble 7%. The software maker cited weaker enterprise spending on digital-media tools. Analysts trimmed price targets, amplifying pressure on the broader cloud complex.
Latest U.S. CPI rises less than expected; rate-cut hopes lift sentiment. The softer core reading eased inflation worries and pushed Treasury yields lower. Traders now see increased odds of Federal Reserve easing later this year.
Federal Reserve officials signal steady rates at upcoming meeting; stocks extend gains. Minutes showed policymakers want more evidence of disinflation before acting. Expectations for two quarter-point cuts by year-end firmed in futures markets.
Micron Technology downgraded at Morgan Stanley; stock drops 3%. The broker warned that DRAM pricing momentum may peak this quarter. Peer semiconductor names faced spill-over selling.
Tesla Motors receives European nod for Full Self-Driving beta; shares inch 0.1% higher. Regulators approved a limited pilot across Germany and the Netherlands. The decision could accelerate the company’s high-margin software revenue push.
Advanced Micro Devices ships next-gen Instinct accelerators; shares up 1.8%. Early benchmarks show performance gains over rivals in AI training workloads. Management reaffirmed a $4 billion AI chip revenue goal.
Alphabet expands Gemini AI tools to Google Workspace; stock gains 1.5%. The rollout embeds generative features across Docs, Gmail and Sheets. Analysts see rising subscription revenue and margin upside.
Li Auto posts record vehicle deliveries; U.S.-listed China EV stocks rally. The automaker shipped more than 50,000 units, signaling strong demand. XPeng Inc. and NIO Inc. also traded higher in sympathy.
Brent crude tops $85 on supply risks; Exxon Mobil and Chevron edge higher. Ongoing Middle East tensions and tighter inventories fueled the move. The energy sector outperformed broader benchmarks.
UnitedHealth warns of rising medical costs from elective procedures; insurers retreat. Management said utilization remains above historical averages. Humana and Elevance Health slipped as investors reassessed margin outlooks.
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