01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.51% at 53,459.78; S&P 500 declined 0.52% at 7,745.06; NASDAQ slipped 0.32% at 26,644.91. A cautious mood around policy and geopolitics nudged the benchmarks lower despite vigorous trading in select technology names.
Chip and storage leaders dominated the session’s unusual moves. Micron Technology (MU) rose 4.13% at $1,011.75; SanDisk (SNDK) jumped 8.88% at $1,786.85; Marvell Technology (MRVL) advanced 5.54% at $234.33; AXT Inc (AXTI) surged 17.55% at $95.97; Western Digital (WDC) climbed 5.35% at $536.01. Not every heavyweight shared the upside: NVIDIA (NVDA) fell 0.07% at $225.01, while Apple (AAPL) fell 0.11% at $305.59, reflecting a mixed backdrop for mega-cap tech.
Overall, strength in memory and semiconductor names helped cushion broader market weakness. Traders cited optimism around artificial-intelligence demand and supply-chain policy shifts as catalysts for the sector, even as profit-taking elsewhere kept headline indexes in the red. Turnover in chip-linked exchange-traded funds was noticeably higher than average, suggesting continued retail and institutional interest in the space.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.72%.USD/CNH rose 0.01%, at 6.79; USD/HKD rose 0.00%, at 7.84.U.S. Dollar Index fell 0.01%, at 99.58.WTI crude futures rose 0.53%, at 84.18 USD/bbl; COMEX gold futures fell 0.13%, at 4,468.00 USD/oz.
03 Top News
1. U.S. officials have reportedly urged Apple to avoid Chinese memory-chip suppliers. Media sources say the administration advised the iPhone maker against purchasing from ChangXin and Yangtze amid supply-chain strains. The guidance highlights escalating tech-security concerns and could reshape global semiconductor procurement.
2. CVS Health announced that Glenview Capital founder Larry Robbins has left its board. Robbins joined in 2024 to push governance reforms and cost discipline. Management credited him with sharpening operational focus during a key transition period.
3. Canadian Prime Minister Mark Carney plans to speak with President Trump about proposed 50% U.S. tariffs on Canadian goods. Ottawa is seeking to delay or cancel duties on roughly $20 billion of exports. Canadian negotiators have been in Washington amid escalating trade tensions.
4. Home Depot faces muted expectations ahead of its upcoming fiscal second-quarter report. Analysts forecast earnings of about $4.73 per share as sluggish housing turnover dampens home-improvement spending. The retailer’s shares remain 15% lower over the past year.
5. Walmart’s second-quarter results this week come with a “lower bar,” analysts say. Point-of-sale data show slower growth, yet broader retail sales have strengthened. Davidson expects comparable sales in the low-4% range, slightly above consensus.
6. Intuitive Machines secured authorization for a >$600 million multi-satellite communications program. Using its IM 1300 platform, the company will design and build multiple spacecraft. The contract spurred a pre-market share surge of more than 5%.
7. Defense contractor L3Harris appointed insider Sam Mehta as chief executive officer. Mehta replaces Christopher Kubasik, who stepped down immediately. Leadership continuity aims to support the firm’s ongoing integration of recent acquisitions.
8. OpenAI signed a 10 GW data-center lease in Ohio with SB Energy, backed by NVIDIA financing guarantees. NVIDIA will supply chips and partially guarantee project debt, gaining an equity stake in return. The six-year build is expected to create 35,000 construction jobs and 2,500 long-term positions.
9. OmniAb inked a $370 million drug-development deal with Eli Lilly. The collaboration grants Lilly access to OmniAb’s antibody discovery platform. Shares of OmniAb spiked more than 18% on the announcement.
10. The PHLX Semiconductor Sector officially entered a bull market after a swift rebound. The index climbed 1.6%, closing above 12,600 and ending a 21-day bear-market stint. Semiconductor optimism is bolstered by strong demand linked to AI infrastructure spending.
Sources: Reuters, Dow Jones, MT Newswires, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
