01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 1.86% at 50,848.75; S&P 500 up 1.75% at 7,394.30; NASDAQ up 2.54% at 25,809.66. A decisive rebound in large-cap technology and semiconductor shares powered all three gauges to strong gains, with buying interest accelerating into the closing bell.
Semiconductor-linked names dominated the session’s unusual-move list. Micron Technology (MU up 11.66% at $995.87) led blue-chip gainers after fresh analyst upgrades, while leveraged fund Direxion Daily Semiconductors Bull 3x Shares (SOXL up 23.99% at $223.99) amplified the chip rally. Marvell Technology (MRVL up 11.13% at $280.71) and Intel (INTC up 9.27% at $116.96) enjoyed double-digit percentage jumps on optimism for AI server demand. Advanced Micro Devices (AMD up 7.97% at $488.45), Taiwan Semiconductor Manufacturing (TSM up 3.26% at $421.07) and NVIDIA (NVDA up 2.22% at $204.87) extended recent rebounds, while Tesla (TSLA up 4.60% at $399.15) joined the advance. Conversely, Microsoft (MSFT declined 1.77% at $390.34) and Oracle (ORCL fell 8.53% at $184.10) lagged amid profit-taking and earnings concerns, and bearish chip fund SOXS slid 24.35% to $4.97.
Across the tape, momentum firmly favored growth themes. Broad participation from chip equipment makers to AI-heavy megacaps underpinned risk appetite, helping broad-based ETFs such as Invesco QQQ (QQQ up 3.38% at $717.12) and ProShares UltraPro QQQ (TQQQ up 9.73% at $76.01) clock solid gains. Despite pockets of weakness in select software names, the session’s breadth suggested renewed confidence that cooling inflation and robust tech demand can coexist, underpinning the market’s move toward record territory.
02 Other Markets
U.S. 10-year Treasury yield was unchanged at 4.46%, holding steady as investors weighed mixed economic signals against the Fed’s policy outlook.
USD/CNH fell 0.04%, at 6.80; USD/HKD was flat at 7.84.
U.S. Dollar Index declined 0.05%, at 99.65.
WTI crude futures fell 2.19%, at $85.79 USD/bbl; COMEX gold futures rose 3.61%, at $4,262.50 USD/oz.
03 Top News
1. Bank of America Double-Upgrades Intel, Citing Foundry Momentum. The broker raised its rating to Buy with a price target of $135, up from $96. Analysts see Intel capturing a quarter of a potential $170 billion server-CPU market by 2030 and gaining customers for its still-unprofitable but expanding foundry unit.
2. SpaceX’s Blockbuster IPO Attracts Over $70 Billion in Retail Orders. Bloomberg reports retail investors could receive at least 20% of shares in the offering that seeks a $1.8 trillion valuation. Total demand has exceeded $250 billion, setting the stage for the largest-ever U.S. listing.
3. Micron Rallies as Investors Dismiss SK Hynix Capacity Threat. Shares jumped after rival SK Hynix’s long-dated plan to triple wafer output failed to dent near-term optimism. Micron remains up more than 200% year-to-date despite recent volatility.
4. Trump insists Iran deal is close after scrapping new strikes. President Donald Trump pulled back threatened military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic “VERY HARD” and threatened to seize its oil infrastructure.
5. Corporate-Travel Platform Navan Lifts Full-Year Outlook on Robust Demand. The company cited strong enterprise bookings and wider adoption of its AI-driven service, prompting multiple brokerages to boost price targets to as high as $33. Shares surged about 20% in pre-market trade.
6. Nvidia Invests in Neura Robotics to Expand ‘Physical AI’ Footprint. Participation in a funding round of up to $1.4 billion aims to scale production of millions of humanoid robots by 2030. The move supports Nvidia CEO Jensen Huang’s vision of a multitrillion-dollar robotics market.
7. Oracle Issues Revenue Miss and Unveils $70 Billion Capex Plan. A larger-than-expected spending blueprint and softer cloud bookings drove a sharp post-earnings share decline. Investors questioned near-term returns as free cash flow turned negative.
8. Quhuo Receives Preliminary Go-Private Proposal at Significant Premium. The ride-hailing platform confirmed a non-binding offer that sent its U.S.-listed shares up more than 100%. The board said it will evaluate the bid while continuing strategic reviews.
9. Taiwan Semiconductor Posts Record May Sales, Signaling Strong Chip Demand. Revenue jumped 30% year-on-year, buoyed by AI and smartphone orders. The update lifted ADRs and reinforced confidence in the semiconductor supply chain’s recovery.
10. U.S. Consumer Price Growth Meets Expectations, Calming Rate-Hike Fears. Core inflation held at a moderate pace, supporting views the Federal Reserve can maintain current policy settings. Bond yields steadied near 4.46%, aiding equity market sentiment.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.