01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.92% at 51,671.03; S&P 500 up 1.65% at 7,554.29; NASDAQ up 3.07% at 26,683.94. A tech-led rebound carried all three benchmarks higher, with the NASDAQ easily outpacing its peers thanks to renewed enthusiasm for artificial-intelligence chipmakers and their suppliers.
Unusual-move stocks dominated trading. SpaceX (SPCX up 19.60% at $192.50) extended its blockbuster debut, while Micron Technology (MU up 10.84% at $1,087.99) and Marvell Technology (MRVL up 10.43% at $308.88) paced memory and networking gains. Leveraged fund Direxion Daily Semiconductors Bull 3x (SOXL up 16.12% at $272.50) and storage leader Western Digital (WDC up 16.10% at $653.53) highlighted bullish sentiment across the chip complex. Graphics-processor giant NVIDIA (NVDA up 3.54% at $212.45), Advanced Micro Devices (AMD up 6.98% at $547.26) and Intel (INTC up 2.64% at $127.86) also registered strong gains. On the downside, bearish counterpart Direxion Daily Semiconductors Bear 3x (SOXS fell 16.31% at $3.95) slumped as traders rotated firmly toward growth names.
Broad-based tech ETFs echoed the rally. Invesco QQQ (QQQ up 3.14% at $744.00), ProShares UltraPro QQQ (TQQQ up 9.12% at $84.59) and SPDR S&P 500 Trust (SPY up 1.76% at $754.83) all recorded healthy advances, underscoring widespread risk appetite. The momentum in high-beta chips combined with easing geopolitical tensions to brighten the market’s tone, leaving investors hopeful that the recent upswing can broaden beyond technology in the sessions ahead.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.47%.
USD/CNH fell 0.08%, at 6.81; USD/HKD fell 0.00%, at 7.83.
U.S. Dollar Index rose 0.01%, at 99.68.
WTI crude futures rose 0.73%, at 80.02 USD/bbl; COMEX gold futures fell 0.40%, at 4,334.00 USD/oz.
03 Top News
1. SpaceX’s IPO Swells to a Record $85.7 Billion After Underwriters Trigger Greenshoe Option. Exercising the option added 83.3 million shares to the float, supplying extra liquidity and cushioning volatility. The deal cements the company’s status as the world’s largest-ever stock listing and lifts founder Elon Musk’s fortune above the trillion-dollar mark.
2. SpaceX Shares Soar Nearly 20% in Second Session as Musk Teases $1 Trillion Revenue Goal. Heavy trading volume and bullish projections for orbital AI data-center sales powered the rally. Cathie Wood’s ARK Invest disclosed a 3.3 million-share purchase, signaling institutional enthusiasm.
3. Micron Technology Rallies Almost 10% on Hopes of an AI-Driven Memory Supercycle. Investors cheered signs of chronic supply shortages as Microsoft flagged surging console component costs. Analysts argue the low valuation leaves room for multiple expansion if demand persists.
4. Chip Startup Tensordyne Projects Over $200 Million in Orders for Its New AI Inference System. The Napier processor, built with Broadcom and manufactured by TSMC, promises higher speed and efficiency for generative-AI workloads. The firm is preparing a Series D funding round later this year to scale production.
5. Iran Announces Initial Provisions of U.S.–Iran Memorandum Will Begin This Week. Foreign Minister Araghchi said phased implementation starts immediately, with full ratification expected after formal signing. The move supports de-escalation in the Persian Gulf and eases energy-market concerns.
6. First LNG Tanker Traverses the Strait of Hormuz Following Interim Peace Accord. Vessel-tracking data showed carrier “Disha” exiting the Gulf, signaling a reopening of the critical energy chokepoint. Analysts expect gradual normalization of Middle-East oil and gas shipments.
7. Morgan Stanley Initiates Coverage of Onto Innovation With Overweight Rating and Upside Call. The bank cites potential earnings beats and multiple expansion for the semiconductor equipment maker. A bullish view on process-control demand underpins a positive investment thesis.
8. Needham Launches Coverage of CEVA as Buy, Highlighting AI Licensing Tailwinds. The broker set a $55 price target, projecting robust earnings growth from rising semiconductor IP demand. Management’s focus on wireless and edge-AI positions the firm for secular gains.
9. JPMorgan Starts Esco Technologies at Overweight, Targeting $420 Price on Differentiated Portfolio. Analysts see strong growth potential in the company’s testing and filtration solutions. The call implies roughly 33% upside from current levels.
10. UBS Tags Jade Biosciences as Buy, Citing Accelerated Path to Kidney-Therapy Approval. The bank believes favorable FDA stances toward shorter clinical endpoints could shorten development timelines. UBS forecasts the biotech’s candidate as a potential best-in-class treatment, supporting valuation upside.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
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