Market

August 7, U.S. stocks opened higher as investors weighed a light economic calendar and an ongoing tech rebound. The Dow Jones gained 0.07%, the S&P 500 advanced 0.33%, and the Nasdaq surged 0.79%, powered by strength in large-cap chipmakers and AI software names.

Doximity, Inc. skyrocketed 87.92% after unveiling a physician-focused AI assistant, while Applied Optoelectronics jumped 8.52% on record data-center orders. AXT Inc rallied 8.19% on new compound-semiconductor partnerships, Lumentum climbed 4.74% after an analyst upgrade, Palantir Technologies Inc. rose 4.39% on a fresh Pentagon contract, and ServiceNow added 4.18% on upbeat guidance. On the downside, Trade Desk Inc. fell 24.56% after slashing its revenue outlook, and SK hynix slipped 2.08% on memory-pricing worries.

Across themes, MicroSectors Gold Miners 3x Leveraged ETN spiked 21.57%, ProShares Ultra Silver gained 7.73%, and Direxion Daily Semiconductors Bull 3x Shares rose 6.81% amid strength in metals and chips. Marvell Technology firmed 2.76%, Intel added 2.57%, Tesla Motors advanced 1.35%, Microsoft edged up 0.53%, and Apple inched 0.34% higher as investors rotated into mega-cap growth leaders.

News

Apple unveils iPhone 18 with on-device generative AI, sparking upgrade buzz. The flagship introduces a 3-nanometer neural engine that triples inference speed. Analysts say the launch could accelerate premium smartphone replacement cycles.

Tesla Motors begins first customer deliveries of Cybertruck 2, boosting EV ambitions. Early reviews cite a 600-mile range and advanced autonomous features. The rollout supports the company’s goal of doubling North American production capacity.

NVIDIA reports record data-center revenue, lifts full-year outlook. Management attributes the surge to booming demand for AI accelerators. Margins expanded to 78%, sending shares higher in early trade.

Intel outlines 1.5-nanometer chip roadmap at developer conference. Executives said the new process will restore leadership by 2027. The plan includes major foundry customer wins that could diversify revenue.

Palantir Technologies Inc. secures $900 million U.S. Army contract for AI-driven logistics. The multiyear deal expands its defense footprint and supports a 30% operating-margin target.

Doximity, Inc. tops estimates and launches physician AI scribe, sending shares soaring. Quarterly revenue grew 40%, and the firm announced a $100 million share-buyback program.

Trade Desk Inc. warns of ad-spending slowdown, stock tumbles. Management cited cautious brand budgets, prompting analysts to trim price targets and earnings forecasts.

Applied Optoelectronics lands multiyear supply pact with a leading hyperscale customer. The agreement for 400G optical modules boosts revenue visibility and production utilization.

Labor Department says initial jobless claims unexpectedly fell to a three-month low. The data underscore a resilient labor market, tempering recession concerns on Wall Street.

Federal Reserve Governor Cook signals willingness to cut rates if disinflation persists. Her comments shifted futures pricing toward an earlier-than-expected policy easing, supporting risk sentiment.