01 Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.19% at 52,475.10; S&P 500 up 0.28% at 7,743.98; NASDAQ up 0.27% at 26,549.85. The tone was constructive, with the broad market edging higher even as traders stayed focused on earnings and AI spending trends. The move suggests selective buying rather than a broad risk-on surge.

Among unusual-move stocks, the biggest action centered on AI and software names, with several sharply higher or lower after results and deal headlines. Microsoft rose 1.91% to $95.53 in the tool data, while Oracle jumped 10.73% to $144.54 and CoreWeave climbed 7.32% to $63.93. On the downside, Alphabet was weaker in the session snapshot, while Marvell and Lumentum were among the main after-hours movers in related coverage, with the latter’s deal-driven rally not yet reflected in the closing-price feed. Other notable gainers included Vertiv Holdings up 16.48% at $242.94, SanDisk up 7.66% at $1,404.77, and Silicon Motion up 7.56% at $219.61.

Several U.S.-listed Chinese stocks also saw sharp individual swings, but only where the tool returned closing data. Future FinTech surged 55.38% to $2.89, Chanson International Holding jumped 35.19% to $1.46, and Four Seasons Education gained 12.70% to $11.49. On the weaker side, New Oriental Education fell 12.54% to $50.72, MindForge declined 30.23% to $5.84, and Yiren Digital fell 14.25% to $0.47. These moves highlight a highly selective tape in lower-priced names.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 5.04.

USD/CNH fell 0.0134%, at 6.71; USD/HKD fell 0.0070%, at 7.85.

U.S. Dollar Index rose 0.0098%, at 102.13.

WTI crude futures fell 0.86%, at 101.90 USD/bbl; COMEX gold futures rose 0.31%, at 4064.00 USD/oz.

03 Top News

1. Marvell Technology entered advanced talks to buy Lumentum Holdings. Reuters reported that the companies were discussing a photonics deal that could be announced as soon as next week. Lumentum’s optical components are used in communications networks and data centers, so the transaction would deepen Marvell’s AI infrastructure exposure.

2. ServiceNow raised its AI contract target but still fell after earnings. The company lifted its full-year AI contract goal to $1.7 billion as enterprise deals accelerated. However, a profit miss and softer contract growth guidance overshadowed that progress. The stock fell sharply in after-hours trading as investors questioned the near-term payoff from AI spending.

3. Microsoft defended its AI capex strategy after beating expectations. Management said the company expects to keep generating positive free cash flow even after heavy infrastructure spending. Azure revenue growth of 48% showed strong demand for cloud and AI compute. The message helped calm concerns that hyperscale investment is destroying returns.

4. Alphabet missed earnings expectations and cash burn worsened. The company reported weaker-than-expected profit and revenue, while free cash flow turned deeply negative because of AI-related capital spending. Search revenue growth also trailed expectations, adding pressure on the stock. The results reinforced investor concern that the AI buildout is raising costs faster than monetization.

5. Berkshire’s Alphabet stake likely moved into a paper loss after the earnings miss. Dow Jones noted that the decline in Alphabet shares leaves Warren Buffett’s large position under pressure. The report highlighted that Berkshire accumulated shares around a much higher level earlier in the year. The move underscores how quickly an earnings disappointment can impair even large, long-term bets.

6. Microsoft’s foundry business saw a surge in open-source AI model revenue. CEO Satya Nadella said more customers are building agentic AI tools across multiple models. He also said revenue from open-source models rose tenfold. That suggests enterprise AI adoption is broadening beyond a single model ecosystem.

7. Fortinet beat estimates but still sold off after hours. The cybersecurity company topped profit and revenue expectations and raised full-year guidance. Even so, investors focused on the stock’s sharp late-session drop rather than the better outlook. The reaction suggests valuation and expectations may have been too high.

8. Apple and Tesla were among the large-cap names with muted moves in the closing snapshot. The tool data showed Apple down 0.94% at $343.83 and Tesla down 0.80% at $404.22. While not tied to a single event in the provided news flow, both remain closely watched benchmark stocks. Their softer performance contrasted with stronger AI-linked winners.

9. Ford faced pressure as weak vehicle sales hit profit and revenue. Dow Jones company headlines said the automaker’s quarterly results were hurt by softer gas, hybrid, and EV demand. Profit came in lower than a year earlier. The report shows the auto industry still facing uneven demand conditions.

10. FedEx lifted its outlook as shipping rates and volumes improved. The company said it now expects revenue growth of around 12% for the calendar year. Better shipping rates and volumes were the main drivers behind the improved view. That points to a firmer operating backdrop for the logistics sector.

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