Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.04% at 53,770.27; S&P 500 added 0.26% at 7,748.50; NASDAQ gained 0.54% at 26,588.49. A mixed finish masked a sharp rotation into chipmakers and other AI-linked names, allowing the tech-heavy benchmark to outperform its peers.
Stand-out movers clustered around the AI hardware theme. NEBIUS (NBIS) jumped 34.14% at $259.20 after a blow-out revenue beat, while cloud peer CoreWeave (CRWV) climbed 19.28% at $107.73. Server maker SUPER MICRO COMPUTER (SMCI) leapt 19.02% at $37.61; leveraged ETF SOXL rose 6.89% at $142.16;
Memory giant Micron (MU) advanced 4.92% at $911.29. Graphics leader NVIDIA (NVDA) added 3.03% at $224.09, and optical specialist Lumentum (LITE) rallied 13.63% at $932.47.
Conversely, some megacaps slipped: Tesla (TSLA) declined 1.59% at $327.51, Apple (AAPL) fell 0.87% at $302.25, and Alphabet (GOOG) eased 0.18% at $342.37; social-media titan Meta (META) slid 3.38% at $578.85, while bearish semiconductor ETF SOXS fell 6.95% at $40.97 as chip optimism grew.
Inflation relief and optimistic corporate headlines underpinned risk appetite. Softer July CPI data reinforced expectations the Federal Reserve may stay on hold next month, pushing cash toward growth sectors. At the same time, upbeat results and order backlogs from AI-infrastructure players bolstered confidence that the spending cycle on chips, servers, and networking gear remains intact despite recent valuation worries. Profit-taking in selected megacaps suggested some rotation but did little to derail the broader tech rebound.
Other Markets
U.S. 10-year Treasury yield was unchanged at 4.68%. USD/CNH rose 0.05%, at 6.79; USD/HKD fell 0.00%, at 7.85. U.S. Dollar Index fell 0.02%, at 99.96. WTI crude futures fell 0.66%, at 82.72 USD/bbl; COMEX gold futures fell 0.15%, at 4,461.00 USD/oz.
Top News
1. Cisco’s quarterly profit jumped 51% on surging AI networking orders. The company booked $4 billion in new hyperscale AI infrastructure deals, lifting annual AI orders to $9.3 billion. It guided for higher fiscal-2027 revenue of up to $73.4 billion.
2. Meta Platforms launched a 6,500-word manifesto to position itself as a “humanist” AI leader. CEO Mark Zuckerberg argued that democratizing superintelligence is crucial for society. The public-relations push follows mounting legal and reputational challenges facing the social-media giant.
3. Bank of America unveiled a $250 billion “Critical Infrastructure Finance Initiative.” Funds will back U.S. data centers, energy projects, and transport upgrades through 2027. The bank expects the program to spur economic growth and create tens of thousands of jobs.
4. U.S. Consumer Price Index rose 0.1% in July, keeping the annual rate at 3.4%. Core CPI advanced 0.2% month-over-month, easing to 2.5% year-over-year. The tame reading strengthened market bets that the Federal Reserve will leave rates unchanged at its next meeting.
5. Former President Donald Trump claimed the United States has “total control” of the Strait of Hormuz. He described the naval presence as a “wall of steel” amid heightened tensions with Iran. The statement underscores geopolitical risks for global oil transport routes.
6. Nvidia partnered with major asset managers to launch AI-infrastructure financing platforms exceeding $500 billion. The initiative aims to help customers fund large-scale purchases of Nvidia chips. The move eased concerns over industry debt exposure and supported the stock’s latest advance.
7. SpaceX successfully launched 24 additional Starlink satellites from California. The mission marked the company’s 51st West Coast flight this year, expanding its broadband constellation. Starlink now contributes nearly 70% of SpaceX revenue, reinforcing growth ahead of an upcoming share lock-up expiry.
8. Super Micro Computer’s fourth-quarter earnings beat expectations and signaled robust demand. Revenue nearly doubled to $11.12 billion, while adjusted EPS surged 315% to $1.70. Management projects first-quarter sales up to $15.5 billion, far above consensus.
9. Lumentum posted blow-out fiscal-year results as optical demand soared. Revenue climbed 109% to $10.1 billion, and adjusted EPS leapt 267%. The supplier cited accelerating 800G and 1.6T module shipments to AI data centers.
10. Nebius Group exceeded second-quarter estimates and secured four AI cloud contracts over $1 billion each. Total revenue hit $582.3 million, with its AI cloud unit growing more than 500%. The firm reaffirmed full-year guidance amid continued pricing power for next-gen compute capacity.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
