01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.36% at 50,644.28; S&P 500 up 0.02% at 7,520.36; NASDAQ up 0.07% at 26,674.73. A modest green finish for all three benchmarks reflected a continued rotation toward semiconductor names, which helped offset weakness in select consumer and internet shares.
Several unusual-move stocks showed pronounced swings. Memory leader Micron Technology (MU) jumped 3.63% at $928.41 amid relentless AI-driven demand, while leveraged chip fund Direxion Daily MU Bull 2X (MUU) surged 7.30% at $794.01. Space-connectivity play AST SpaceMobile (ASTS) vaulted 8.27% at $129.60, and satellite-infrastructure firm Redwire (RDW) climbed 8.89% at $24.00. On the downside, Chinese e-commerce heavyweight PDD (PDD) fell 10.38% at $86.61 after earnings disappointment, cybersecurity vendor Zscaler (ZS) declined 31.52% at $126.41 on weak guidance, and growth-tech tracker Destiny Tech100 (DXYZ) slid 11.51% at $53.28. Semiconductor volatility was evident with Direxion SOXL down 3.46% at $217.98 and its bearish counterpart SOXS up 3.82% at $6.53.
Chip enthusiasm dominated trading, while pockets of weakness emerged in Chinese ADRs. Gains for Tesla (TSLA) up 1.56% at $440.36, Taiwan Semi (TSM) up 2.52% at $422.73 and Intel (INTC) slipped 1.42% at $121.77 underscored the mixed tone within tech hardware. Meanwhile, NVIDIA (NVDA) eased 1.05% at $212.60 after its recent record run, and social-commerce names such as Alibaba (BABA) declined 1.32% at $127.76 alongside Bilibili (BILI) down 1.18% at $17.57, reflecting lingering caution toward China’s consumer outlook.
02 Other Markets
The U.S. 10-year Treasury yield was unchanged at 4.48%. USD/CNH fell 0.02%, at 6.82; USD/HKD was little changed, down 0.00%, at 7.83. U.S. Dollar Index edged up 0.02%, at 99.23. WTI crude futures rose 1.18%, at 89.73 USD/bbl; COMEX gold futures increased 0.13%, at 4,487.20 USD/oz.
03 Top News
1. Snowflake lifted its long-term product-revenue outlook and signed a $6 billion AWS partnership. The five-year deal deepens integration with Amazon’s Graviton chips and AI infrastructure. Shares jumped roughly 36% in after-hours trading as management highlighted surging enterprise AI demand.
2. GameStop’s CEO Ryan Cohen signaled he may pursue aggressive tactics after eBay rejected his $56 billion bid. Analysts say options include a hostile tender offer or shareholder campaign, though financing remains uncertain. eBay’s board called the proposal “neither credible nor attractive.”
3. Analysts see further upside for Marvell ahead of earnings on robust optical-chip demand. J.P. Morgan and HSBC flagged strong momentum in high-speed connectivity and custom chip wins. The stock has soared more than 140% year-to-date on AI infrastructure themes.
4. Micron’s market value continued to climb after UBS hiked its price target to $1,625. The broker cited long-term high-bandwidth memory supply agreements as a catalyst for sustained earnings growth amid AI server demand.
5. Iran and the United States are reportedly discussing a draft framework to reopen Strait of Hormuz shipping. The outline would see Tehran restore commercial traffic within a month in exchange for U.S. military pullbacks and easing of a naval blockade, according to Iranian state media.
6. Dick’s Sporting Goods trimmed its full-year profit guidance due to Foot Locker integration costs. Despite a 63% jump in quarterly sales, margin pressures from store remodels prompted the retailer to lower EPS expectations to $13.27–14.27 for 2026.
7. Bath & Body Works beat quarterly estimates and announced a finance leadership transition. Strong demand for affordable self-care products lifted revenue to $1.38 billion; Eva Boratto will depart as CFO, with Tom Javitch stepping in as interim finance chief.
8. Oil prices fell more than 3% as traders weighed progress in U.S.–Iran peace efforts. Brent settled near $94 per barrel, erasing prior gains, while renewed regional hostilities capped optimism.
9. JPMorgan upgraded MGM Resorts to overweight, citing a bottoming in Las Vegas Strip earnings. The bank expects easier year-over-year comparisons and resilient leisure travel to boost near-term growth.
10. SK Hynix filed to list American depositary receipts in the United States, potentially raising up to $10 billion. The move would broaden investor access to the Korean memory-chip giant and capitalize on heightened global interest in AI-related semiconductors.
Sources: Reuters, Dow Jones, Thomson Reuters, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
