Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.71% at 52,048.83; S&P 500 up 1.49% at 7,764.70; NASDAQ up 2.26% at 27,122.09. A fourth straight slide in crude prices and a rush into high-growth technology names helped all three benchmarks end solidly higher, with the NASDAQ logging a fresh record close.

Chip and mega-cap tech shares dominated the day’s unusual moves. Intel (INTC) jumped 12.14% to $121.78, extending its multi-week rebound. AI-hardware leader NVIDIA (NVDA) rose 2.30% to $227.38, while rival Advanced Micro Devices (AMD) climbed 9.95% to $615.52.

Social-media giant Meta Platforms (META) rallied 11.43% to $741.25, buoyed by enthusiasm for its new AI offerings. New-listing darling ARM Holdings (ARM) surged 17.16% to $322.90, adding to post-IPO gains. Among leveraged products, the bullish semiconductor fund Direxion SOXL soared 14.77% to $141.93, whereas its bearish counterpart SOXS fell 14.85% to $35.33, underscoring the day’s tech-heavy risk appetite.

Broader momentum remained firmly in the growth corner. Popular tech-tracking vehicles such as ProShares UltraPro QQQ (TQQQ) advanced 8.63% to $78.91 and Invesco QQQ (QQQ) rose 2.88% to $741.47.

Electric-vehicle bellwether Tesla (TSLA) gained 3.03% to $375.30, while crypto-linked Coinbase (COIN) added 3.50% to $201.05.

Conversely, semiconductor inverse play Tradr 2X Long SNDK (SNXX) declined 2.29% to $17.53, reflecting the day’s rotation away from defensive hedges.

Overall, outsized gains in AI, semiconductor and megacap growth names powered a broad advance across major averages.

Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.96%. USD/CNH rose 0.0015%, at 6.74; USD/HKD fell 0.0023%, at 7.85. U.S. Dollar Index rose 0.00%, at 100.40. WTI crude futures fell 0.25%, at 92.14 USD/bbl; COMEX gold futures rose 0.39%, at 4,401.10 USD/oz.

Top News

1. Meta Platforms unveiled its AI assistant “Muse”, propelling shares up and adding $192 billion to its market value. The tool became the most-downloaded free app in Apple’s U.S. store, boosting confidence in Meta’s non-advertising revenue potential. Analysts project Muse could contribute over $28 billion in annual sales by 2030.

2. Nvidia signed a partnership with Swedish firm Einride to supply chips for expanding self-driving truck production. The agreement strengthens Nvidia’s position in autonomous transport solutions. Industry observers say the deal could accelerate commercial deployment of electric freight fleets.

3. Priority Technology accepted a $1.6 billion take-private offer from a group led by its CEO Thomas Priore. The transaction will deliver shareholders a cash premium and is expected to close following regulatory and shareholder approvals. Management says the move will provide flexibility to invest in long-term growth initiatives.

4. The government of British Columbia filed a lawsuit against OpenAI, alleging ChatGPT facilitated a mass school shooting. The suit accuses the company and CEO Sam Altman of negligence and product liability violations for failing to monitor harmful user activity. OpenAI stated it remains committed to safety and cooperation with authorities.

5. Amazon barred Meta’s Muse from making purchases on its platform, while Shopify struck a payment-tech partnership with the AI agent. Amazon cited the need to protect customer experience, whereas Shopify aims to leverage autonomous shopping to enhance merchant sales. Analysts view the divergent strategies as an early skirmish in AI-driven commerce.

6. U.K. Prime Minister Andy Burnham approved a Saudi request for defensive air-to-air refuelling support. A Voyager tanker will be deployed for a limited period to help counter Houthi attacks. Officials say the action seeks to stabilise regional trade routes and energy supplies.

7. President Donald Trump is set to address the United Nations General Assembly, with investors watching for signals on Iran and energy policy. Expectations of diplomatic outreach have already eased crude prices. Any shifts in tone could influence global inflation and Fed deliberations.

8. Oil prices fell for a fourth session as improved Strait of Hormuz traffic and renewed Iran diplomacy cut supply fears. Brent settled near $100 a barrel, while WTI slipped below $96. Analysts warn that lingering Red Sea security risks could still spark volatility.

9. Republican legislators proposed suspending diesel exports to tame domestic fuel costs ahead of midterm elections. Rising pump prices are weighing on rural voters, prompting calls for short-term measures such as a federal gas-tax holiday. Critics argue export bans risk disrupting global supply chains.

10. U.S. Treasury Secretary Scott Bessent rejected tech-industry calls for government liability shields over AI risks. He asserted that accountability should remain with AI developers, countering proposals from OpenAI and Anthropic. Market participants view the stance as a potential precursor to stricter self-regulation requirements.

Sources: Reuters, Dow Jones, public market data Disclaimer: This content is for reference only and does not constitute investment advice.