01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.45% at 51,307.79; S&P 500 up 0.13% at 7,609.78; NASDAQ up 0.03% at 27,093.90. A modest but broad advance kept all three benchmarks near record territory as investors digested another round of chip-centric headlines and firmer corporate guidance.
Semiconductor names dominated the unusual-move list. Marvell Technology surged 32.52% at $290.79 after an upbeat AI outlook, while Direxion Daily Semiconductors Bull 3x Shares (SOXL) added 17.31% at $266.32. Hewlett Packard Enterprise climbed 19.47% at $56.15 on record results, and Broadcom (AVGO) advanced 4.70% at $481.57. Among heavyweights, Apple (AAPL) gained 2.90% at $315.20, while NVIDIA (NVDA) eased 0.69% at $222.82 after Monday’s run-up.
Losses were concentrated in select megacaps: Alphabet Class C (GOOG) fell 3.81% at $358.39, Microsoft (MSFT) declined 4.17% at $441.31, and Alphabet Class A (GOOGL) slid 3.86% at $361.85. The leveraged bearish chip ETF Direxion Daily Semiconductors Bear 3x (SOXS) dropped 17.41% at $5.17, reflecting the day’s strong pro-AI sentiment. Vanguard S&P 500 ETF (VOO) was little changed, up 0.14% at $698.26.
02 Other Markets
U.S. 10-year Treasury yield was unchanged at 4.46%, registering a 0.00% move.
USD/CNH rose 0.02%, at 6.81; USD/HKD was nearly flat, down 0.00%, at 7.84.
U.S. Dollar Index rose 0.02%, at 99.25.
WTI crude futures rose 0.52%, at 94.25 USD/bbl; COMEX gold futures fell 0.08%, at 4,516.20 USD/oz.
03 Top News
1. SpaceX is seeking a $1.75 trillion valuation in an all-primary IPO. Sources said the company aims to raise at least $75 billion, with a 15% greenshoe option. The deal would give public investors exposure to Musk’s satellite and launch business while preserving his control.
2. Victoria’s Secret lifted full-year sales and profit forecasts after double-digit revenue growth. Management cited stronger brand momentum and a revived runway show that is boosting customer engagement. Shares jumped about 40%, hitting a record high.
3. Microsoft will unveil new PC and cloud AI tools at its developer conference. CEO Satya Nadella is expected to detail partnerships that bring NVIDIA’s latest chips to Windows laptops. Analysts anticipate safer agentic-AI capabilities aimed at enterprise users.
4. Apple’s market value surpassed Google’s, reclaiming the world’s No. 2 spot. A more than 1% share gain lifted Apple’s capitalization to roughly $4.56 trillion, trailing only NVIDIA. Investors welcomed progress in Apple’s device-centric AI strategy.
5. Optical-communication maker Coherent soared alongside peers after upbeat demand signals. Coherent rose about 18%, while Corning and Lumentum each added double-digits. Traders cited expectations of increased fiber-optic spending for AI data centers.
6. STMicroelectronics raised its 2026–2027 data-center revenue targets on sustained AI demand. The chipmaker now sees 2026 sales around $1 billion and potentially doubling in 2027. Shares climbed more than 9% in response.
7. Marvell Technology rallied after NVIDIA’s CEO called it a potential “next trillion-dollar company.” The endorsement, coupled with Marvell’s own forecast for $10 billion in custom-chip revenue by fiscal 2029, fueled a 25% intraday surge.
8. Dollar General raised its annual profit outlook amid resilient demand for discounted goods. Higher traffic and a dense store network helped offset rising fuel costs, prompting the retailer to guide earnings per share to $7.20–$7.45. The stock advanced more than 4%.
9. Alphabet plans to issue $80 billion in equity to fund AI infrastructure, bolstering chip partner Broadcom. Investors expect much of the capital to flow into custom data-center hardware that Broadcom helps design, lifting Broadcom shares over 5%.
10. Strategy Inc. disclosed a rare Bitcoin sale, adding pressure to cryptocurrency markets. The firm sold about $2.5 million worth of Bitcoin, coinciding with renewed Middle East tensions. Bitcoin briefly slipped below $70,000, and crypto-linked equities retreated.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
