01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.20% at 53,732.41; S&P 500 fell 0.17% at 7,785.76; NASDAQ dropped 0.28% at 26,729.16. Lingering concerns over softer retail-sales data and geopolitical unease weighed on risk sentiment, nudging all three benchmarks modestly into the red after the prior session’s advance.
Semiconductor and momentum names posted the widest swings. Storage bellwether SanDisk (SNDK) up 7.39% at $1,641.11 after unveiling robust mid-teens revenue growth targets, while Advanced Micro Devices (AMD) up 6.50% at $514.39 on continued AI-server optimism. Optical specialist Applied Optoelectronics (AAOI) surged 15.53% at $150.28, extending a multi-day rally. Memory peer Western Digital (WDC) added 4.41% at $508.80, whereas Broadcom (AVGO) fell 5.94% at $392.99 amid rotation out of established chip winners. Equipment giant Applied Materials (AMAT) declined 5.12% at $507.18 despite capacity-expansion plans, and Intel (INTC) slipped 1.97% at $102.50. Electric-vehicle leader Tesla (TSLA) gained 0.68% at $342.27, contrasting with modest softness in NVIDIA (NVDA) down 0.06% at $225.16. Leveraged ETF SOXL eased 0.28% at $144.95, while its bearish counterpart SOXS rose 0.40% at $40.28, reflecting mixed conviction across the high-beta tech complex.
Overall, the market day underscored investors’ selective stance toward growth themes. Strong buy-the-dip interest in next-generation memory, optics, and electric-vehicle stories coexisted with profit-taking in several megacap and semiconductor equipment names. Combined with a modest pullback in the three benchmarks, the pattern suggests positioning ahead of next week’s wave of economic data and Federal Reserve minutes, keeping intraday volatility elevated even as longer-term enthusiasm for AI-related growth endures.
02 Other Markets
U.S. 10-year Treasury yield rose by 1.19%, latest at 4.70%. USD/CNH fell 0.0133%, at 6.79; USD/HKD rose 0.0040%, at 7.85. U.S. Dollar Index declined 0.3111%, at 99.65. WTI crude futures advanced 1.31%, at 81.49 USD/bbl; COMEX gold futures added 0.26%, at 4,432.00 USD/oz.
03 Top News
1. Applied Materials pledged to double its manufacturing capacity by 2028, but the stock slid on margin worries. Management told analysts the expansion aligns with multi-year visibility from chip customers and could lift annual systems revenue toward $14 billion. Investors focused on potential near-term cost pressure, sending shares lower.
2. KinderCare Learning slashed its full-year outlook and reported a quarterly loss, triggering a 37% share drop. The early-education firm cited rising service costs, higher rents, and center closures. Management now expects revenue of $2.66-$2.70 billion versus its prior $2.70-$2.75 billion forecast.
3. SpaceX shares fell about 4% as another share-lockup expiration approached and rival Stoke Space sought $1 billion in funding. The fresh supply of stock and competitive pressure weighed on sentiment, taking the price roughly 30% below its mid-June peak.
4. Tesla is reportedly preparing to reveal a redesigned Roadster featuring SpaceX-derived cold-gas thrusters. The demonstration, expected at SpaceX’s Texas test site, would showcase a limited-edition hypercar that may not be street-legal and could cost well into six figures. The news lifted Tesla shares nearly 3%.
5. Reddit will join the S&P 500, prompting a 14% share spike as index funds gear up to buy roughly 16.7 million shares. The addition follows a challenging post-IPO period for the social-media firm, whose stock is still more than 40% below last year’s peak.
6. U.S. retail sales unexpectedly fell 0.6% in July, hinting at consumer sensitivity to higher prices. Analysts attributed the pullback to waning tax-refund support and lower gasoline receipts, though wealth effects from equities may cushion spending in coming months.
7. The White House imposed hefty tariffs on certain foreign drones, sparking a rally in domestic manufacturers. Levies of up to 100% will target larger or thermal-equipped models, alongside incentives for onshoring production. Shares of several U.S. drone makers jumped between 5% and 20%.
8. Alphabet revealed its 2015 $900 million investment in SpaceX has ballooned to roughly $94 billion. Regulatory filings position the Google parent as the largest institutional holder following June’s $86 billion IPO, underscoring the outsized payoff from its early bet on commercial space.
9. SanDisk forecast mid-to-high-teen annual revenue growth from 2028-2030, boosting storage peers. The company tied its outlook to committed capacity contracts with eight major customers covering two-thirds of output by 2028. Western Digital and Micron also gained on the upbeat demand signals.
10. Optical-component makers surged after upbeat demand commentary, with Applied Optoelectronics leaping 13%. Peers Lumentum, Coherent, and Corning each advanced more than 4%, supported by expectations that AI-driven network upgrades will accelerate orders for high-speed optical modules.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice. Investors should make independent decisions and assume their own risks.
