Market

September 29, U.S. stocks opened mixed with the Dow Jones down 0.1%, the S&P 500 up 0.1% and the Nasdaq Composite higher by 0.4% as investors weighed resilient megacap tech gains against pockets of profit-taking in blue-chips. A calmer Treasury market and softer dollar underpinned risk appetite, while traders looked ahead to fresh inflation data and upcoming Federal Reserve remarks.

Among early movers, Summit Therapeutics PLC soars 17.8% on upbeat clinical-trial results, Navitas Semiconductor Corp climbs 7.0% after a key design-win announcement, Bloom Energy Corp adds 6.7% on a large hydrogen order, Marvell Technology rises 2.9% as AI infrastructure demand accelerates and Broadcom advances 2.6% on a price-target hike. On the downside, Fair Isaac tumbles 19.9% following a disappointing outlook, NIO Inc. drops 4.7% after weak delivery data, Direxion Daily Semiconductors Bear 3x Shares slides 4.1% as chip names rally, while Apple eases 1.4% amid renewed antitrust scrutiny.

Elsewhere, MicroSectors Gold Miners 3x Leveraged ETN gains 3.3% alongside stronger bullion prices, Netflix adds 2.9% on reports of a planned subscription price increase, Micron Technology climbs 1.9% after upbeat earnings, Meta Platforms, Inc. advances 1.5% on AI monetization plans, NVIDIA tacks on 1.2% with analysts citing sustained GPU demand, Intel edges up 0.5% after unveiling new processors, and Amazon.com inches 0.4% higher on robust holiday sales expectations.

News

Micron Technology tops Street profit views and raises guidance. The memory maker cited accelerating AI server demand and improving DRAM pricing. Management signaled further margin expansion, lifting shares in early trade.

Summit Therapeutics PLC reports positive Phase 3 data for lung-cancer therapy. The trial met its primary endpoint of progression-free survival, driving a double-digit stock pop as investors anticipate an expedited regulatory filing.

Fair Isaac sinks after announcing $1 billion secondary share offering. The credit-scoring company said proceeds will fund acquisitions, but dilution fears triggered the stock’s sharp sell-off.

Navitas Semiconductor Corp wins flagship smartphone charger design. The gallium-nitride specialist said a top handset maker adopted its power ICs, boosting revenue forecasts and sending the stock nearly 7% higher.

Bloom Energy Corp secures $1.2 billion hydrogen fuel-cell order. The multiyear deal from a global utility expands the company’s backlog and reinforces confidence in its path to profitability.

NVIDIA unveils next-generation data-center GPU with faster AI inference. The new chip promises 30% performance gains and immediate availability, bolstering the broader semiconductor rally.

Oracle launches autonomous AI-driven cloud database service. The offering targets enterprise customers seeking to lower costs and speed analytics workloads, lifting the software giant’s shares.

Meta Platforms, Inc. introduces paid generative-AI features for Instagram creators. The tools aim to diversify revenue streams and deepen engagement amid intensifying social-media competition.

Tesla Motors cuts Model Y prices in the U.S. to defend market share. The move underscores competitive pressure in the EV space and weighed on industry margins at the open.

NIO Inc. misses quarterly vehicle delivery estimates. Supply-chain bottlenecks and intensified domestic competition dragged shipments below consensus, sparking a nearly 5% share decline.