01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 1.32% at 52,759.21; S&P 500 declined 0.87% at 7,641.16; NASDAQ declined 1.00% at 26,067.17. A revival in bond yields and pockets of sharp single-stock swings outweighed early strength in select chip and crypto names, leaving all three benchmarks firmly in the red by the bell.
Semiconductors and consumer bellwethers posted the day’s most pronounced moves. Among chip makers, Micron Technology (MU) rose 3.97% at $974.33 after unveiling a $10 billion research lab initiative, while Marvell Technology (MRVL) gained 5.79% at $251.01. Memory peer SK hynix (SKHY) added 4.43% at $163.08, whereas graphics-leader NVIDIA (NVDA) slipped 0.33% at $216.85. In the consumer space, Walmart (WMT) fell 9.15% at $103.84 on cautious guidance, pressuring the retail complex. Tech titans were mixed: Apple (AAPL) fell 1.75% at $311.30, while crypto-linked Coinbase (COIN) jumped 7.58% at $172.35 and Strategy (MSTR) advanced 7.81% at $112.39. Electric-vehicle leader Tesla (TSLA) fell 1.71% at $345.13. Biotech name Moderna (MRNA) sank 23.55% at $133.32 after a downbeat outlook, and optical-network firm Applied Optoelectronics (AAOI) climbed 5.66% at $129.10.
Overall, risk appetite rotated toward innovation themes even as high-profile disappointments weighed on sentiment. Gains in select memory and cryptocurrency plays provided pockets of strength, yet broad profit-taking in megacap technology and retail names kept the headline indexes negative. Traders also monitored developments in Treasury yields, which steadied late in the session, offering little relief to equity multiples.
02 Other Markets
U.S. 10-year Treasury yield was unchanged at 4.70%.
USD/CNY fell 0.08%, at 6.77; USD/HKD fell 0.00%, at 7.84.
U.S. Dollar Index fell 0.05%, at 98.82.
WTI crude futures fell 0.62%, at 86.29 USD/bbl; COMEX gold futures rose 0.18%, at 4,579.40 USD/oz.
03 Top News
1. Abbott reached a $670 million settlement over infant-formula lawsuits. The agreement resolves roughly 2,000 claims alleging preterm baby formula caused severe bowel disease. It encompasses a prior $495 million judgment and aims to close cases spread across multiple U.S. courts.
2. Micron announced a decade-long $10 billion investment in “Micron Research Labs.” The Boise-based hub will unite academia, government and tech firms to advance memory and compute architectures. Early endorsements from the White House and Apple underscore the project’s strategic significance for domestic chip leadership.
3. Walmart warned of a “softer consumer environment,” sending its shares down sharply. U.S. comparable sales grew just 2.6%, below expectations, and management flagged higher fuel costs pressuring shoppers. The retailer plans additional price cuts despite raising full-year net-sales guidance.
4. SpaceX signaled delays to its Starship “catch” test, and the stock slid. CEO Elon Musk said the landmark attempt to catch the upper stage with tower arms may be months away, tempering short-term optimism. Shares dropped over 6%, though analysts noted ongoing progress toward full rocket reusability.
5. Treasury Secretary Scott Bessent hinted at further bond-market support measures. After doubling long-bond buybacks, Bessent told CNBC the department has “a big tool kit” if yields stay disconnected from fundamentals. The remarks followed this week’s liquidity-driven initiative to rein in surging long-term rates.
6. Cryptocurrencies surged past key levels, propelling related equities higher. Bitcoin crossed $72,000 amid speculation of a friendlier U.S. regulatory stance following White House meetings with industry leaders. Mining and exchange stocks such as Coinbase and Strategy posted strong gains alongside specialized crypto ETFs.
7. Waymo unveiled a next-generation autonomous-driving compute platform with leading chip partners. Collaborators include AMD, Micron, NVIDIA, Samsung, SanDisk, Socionext and TSMC in developing a 5-nanometer ASIC delivering over 1,000 TOPS. The alliance aims to accelerate real-time sensor processing for self-driving vehicles.
8. Supermicro’s board probe found no evidence of export-control violations by senior management. An independent investigation into a 2026 indictment concluded financial statements remain reliable. The company will adopt stronger compliance measures and has dismissed staff for policy breaches.
9. U.S. initial jobless claims fell to 206,000, below the expected 210,000. Continuing claims held near 1.799 million, suggesting labor-market resilience. The data may influence expectations for future Federal Reserve policy adjustments.
10. Meta emerged as one of Microsoft Azure’s largest AI customers, consuming trillions of tokens weekly. Sources say the social-media giant spends hundreds of millions annually to access multi-vendor AI models via Microsoft’s Foundry marketplace. The partnership highlights escalating cloud costs as tech firms race to develop advanced generative AI applications.
Sources: Reuters, Dow Jones, MT Newswire, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.
