Market
June 9, U.S. stocks opened on a firmer footing as investors welcomed upbeat tech sentiment and shrugged off mixed macro headlines. The Dow Jones gained 0.5%, the S&P 500 advanced 0.6%, and the Nasdaq Composite outperformed with a 0.8% pop, underpinned by broad strength in semiconductors and other growth leaders.
Gains dominated early trading: Direxion Daily Semiconductors Bull 3x Shares rallied 7.5%, Micron Technology climbed 3.9% on bullish memory-chip guidance, Intel rose 3.3% after unveiling new processors, Marvell Technology added 3.0% on an earnings beat, and Roundhill Memory ETF surged 4.5% as investors chased AI hardware plays. Advanced Micro Devices improved 1.7% and NVIDIA tacked on 1.1%, while Tesla Motors edged 1.2% higher following stronger U.S. deliveries. Meta Platforms, Inc. firmed 0.7%, whereas Apple eased 0.5% amid lingering iPhone demand concerns.
Among broader movers, Jiuzi Holdings Inc. spiked 41.8% on heavy retail volume, VNET Group jumped 7.2% after announcing a data-center expansion, and Silicon Motion Technology gained 3.3% on takeover chatter. On the downside, EHang Holdings Ltd slumped 13.6% after a new securities-sale filing, Zepp Health Corporation fell 7.8% on weak outlook, and Redwire Corp. slipped 5.9% following a secondary offering.
News
Micron Technology lifts outlook after memory-chip pricing surge. The company guided fiscal Q4 revenue well above consensus, citing accelerating AI server demand and tighter supply conditions. Investors anticipate margin expansion, sending the stock up nearly 4% at the open.
Marvell Technology beats earnings estimates and raises full-year forecast. Management highlighted robust cloud-infrastructure orders and stronger networking demand. Shares rallied about 3% as analysts boosted price targets.
Tesla Motors reports 15% month-over-month jump in May U.S. deliveries. The rebound eases recent demand worries and supports confidence in second-quarter production targets. The stock added more than 1% in early trading.
Intel unveils next-generation Arrow Lake PC processors. The chips promise double-digit performance gains and enhanced AI acceleration, reigniting enthusiasm for the company’s turnaround plan. Shares advanced over 3% on the announcement.
NVIDIA expands AI collaboration with Microsoft for cloud GPU deployments. A new multi-year agreement boosts NVIDIA’s data-center backlog and reinforces its leadership in accelerated computing. The stock inched to another record high at the bell.
Broadcom secures major AI chip supply deal with a top hyperscaler. The multibillion-dollar contract enhances revenue visibility and underscores demand for custom accelerators. Investors pushed the shares up roughly 1%.
Boeing warns of new 737 MAX delivery delays due to parts shortages. The disclosure clouds recovery timelines and could pressure free cash flow in the second half. Shares slipped nearly 1% in response.
Direxion Daily Semiconductors Bull 3x Shares surges as traders bet on chip rebound. Heavy volume followed upbeat outlooks from multiple semiconductor makers. The leveraged ETF jumped more than 7%, amplifying sector gains.
U.S. weekly jobless claims rise to seven-month high. Initial filings climbed to 248,000, signaling a cooling labor market. The data bolstered expectations the Federal Reserve may cut rates later this summer.
Crude oil inventories swell by 5 million barrels, pressuring energy equities. The unexpected build points to softer demand at the start of the summer driving season. West Texas Intermediate fell 2%, weighing on exploration and production names.
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