01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.53% at 52,485.03; S&P 500 up 0.70% at 7,489.72; NASDAQ up 1.00% at 25,373.85. Solid gains in heavyweight technology names helped the benchmarks finish higher despite pockets of weakness in cyclicals and materials.
Big tech printed the day’s most eye-catching swings. Amazon.com (AMZN) jumped 15.32% at $271.58 after delivering robust cloud-driven results, while Apple (AAPL) fell 7.35% at $308.91 on supply-chain cautions. Chip bellwether NVIDIA (NVDA) rose 2.93% at $200.75, and software giant Microsoft (MSFT) added 3.02% at $464.72. Alphabet’s Class C shares (GOOG) climbed 6.88% at $356.65, contrasting sharply with the steep sell-off in social-media newcomer Reddit (RDDT), down 20.99% at $140.67. Memory maker Micron Technology (MU) declined 5.90% at $823.03, while specialty chip producer AXT (AXTI) surged 28.74% at $60.43. Industrial gases leader Linde (LIN) slid 6.27% at $476.77, and crypto exchange Coinbase (COIN) retreated 10.59% at $146.26.
Leveraged ETFs and semis highlighted the market’s cross-currents. The tech-heavy ProShares UltraPro QQQ (TQQQ) advanced 2.09% at $64.62, whereas the inverse Direxion Daily Semiconductors Bear 3x (SOXS) inched up 0.65% at $54.27, mirroring two-way action in the chip complex. Sector bellwether Advanced Micro Devices (AMD) fell 1.90% at $476.15, while network-chip name Marvell Technology (MRVL) rose 2.32% at $187.56. The moves underline investors’ ongoing tug-of-war over the durability of the AI-driven semiconductor rally.
02 Other Markets
U.S. 10-year Treasury yield rose 1.76%, latest at 4.75%. USD/CNH rose 0.12%, at 6.79; USD/HKD fell 0.01%, at 7.84. U.S. Dollar Index fell 0.19%, at 99.81. WTI crude futures rose 3.84%, at 86.80 USD/bbl; COMEX gold futures fell 1.49%, at 4,098.60 USD/oz.
03 Top News
1. Amazon’s blow-out quarter sparks a 15% share jump. The e-commerce giant reported its strongest revenue growth in over four years, powered by cloud and advertising. Management highlighted accelerating AI-related demand, boosting confidence in future margins.
2. Apple warns of supply constraints, sending shares down 7%. Executives cited potential headwinds from component shortages despite a double-digit iPhone sales gain. Investors focused on the cautious outlook, overshadowing the revenue beat and pushing the stock lower.
3. OpenAI unveils “Astra” AI model in Washington preview. The new large-language model aims to improve reasoning speed and multimodal capabilities. Observers see the demo as OpenAI’s effort to maintain leadership amid intensifying AI competition.
4. Alibaba disputes report linking it to Nvidia’s advanced H200 chip supply for Moonshot AI. Bloomberg suggested the Chinese cloud titan would provide access to 20,000 chips, but Alibaba called the claim “completely groundless.” The episode highlights ongoing tensions around U.S. export controls on high-end semiconductors.
5. Chevron restarts Black Sea oil loadings after drone-strike disruption. CEO Mike Wirth confirmed two buoys at the Caspian Pipeline Consortium terminal are operational again, restoring flows that handle about 2% of global crude supply. Oil prices had spiked during July’s outage.
6. Eaton lifts 2026 earnings guidance on strong data-center demand. The power-management firm now targets adjusted EPS of $13.40–$13.60, up from $13.05–$13.50. Second-quarter revenue rose 21% to $8.53 billion, topping forecasts.
7. Reddit plunges over 20%, heading for its steepest daily drop on record. The social-media platform has fallen nearly 39% year-to-date amid concerns about monetization and user growth. Friday’s rout pushes the share price near its post-IPO lows.
8. Government watchdog flags “significant challenges” in the $21 billion B-52 bomber upgrade. The U.S. GAO warns the Air Force may begin engine production before key tests, raising cost and schedule risks. Contractor Boeing’s shares slipped on the report.
9. General Motors to debut an in-vehicle AI assistant later this year. The automaker says the forthcoming system will integrate deeply with vehicle data, expanding on its existing collaboration with Google’s Gemini. The move intensifies competition in connected-car technology.
10. White House signals readiness for further action against Iran amid regional tensions. President Trump stated the U.S. is “ready to take action,” while CENTCOM confirmed the Strait of Hormuz remains open. Treasury officials are tracking Iranian assets to enforce sanctions.
Sources: Reuters, Dow Jones, Tiger Newspress, MT Newswires Live, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
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