01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.51% at 53,414.25; S&P 500 declined 0.38% at 7,718.60; NASDAQ declined 0.29% at 26,506.99. Despite early strength in semiconductors, all three gauges ended lower as investors digested stronger-than-expected labor data and the prospect of higher interest rates.

Chipmakers topped the list of unusual movers while several marquee consumer names lagged. Micron Technology (MU) jumped 6.10% at $1,016.59 after memory-capacity expansion headlines, and SanDisk (SNDK) rallied 11.90% at $1,740.00. Leveraged fund SOXL advanced 9.87% at $117.28, while peers Marvell Technology (MRVL) added 7.05% at $223.55, Advanced Micro Devices (AMD) rose 4.69% at $477.57 and Intel (INTC) gained 4.51% at $95.80. Graphic-chip leader NVIDIA (NVDA) edged up 0.84% at $230.36. On the downside, consumer and auto names weighed: Tesla (TSLA) fell 5.92% at $354.08, apparel maker Lululemon (LULU) declined 17.38% at $100.61, and Apple (AAPL) slipped 2.51% at $319.97. Short-side semiconductor fund SOXS slid 10.19% at $46.34, mirroring the sector’s strength.

Leadership rotated firmly into semiconductors, with memory and AI-linked hardware dominating the day’s gainers. Eight of the top ten price movers came from the chip complex, underscoring investors’ demand for AI infrastructure plays, even as broader benchmarks softened. Conversely, sharp pullbacks in selected consumer discretionary stalwarts highlighted ongoing earnings- and regulation-related volatility across individual names.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.46%, latest at 4.78%.

USD/CNH fell 0.10%, at 6.78; USD/HKD rose 0.01%, at 7.84.

U.S. Dollar Index rose 0.15%, at 99.16.

WTI crude futures fell 0.09%, at 91.22 USD/bbl; COMEX gold futures fell 1.38%, at 4,477.20 USD/oz.

03 Top News

1. Anthropic delayed its blockbuster IPO marketing to mid-October, extending the timeline for a potential $2 trillion listing. Sources said the artificial-intelligence start-up will now release its prospectus in late September after finalizing a $15 billion credit facility. The shift pushes a key market test for AI valuations closer to year-end.

2. Micron plans to double high-bandwidth memory production capacity, betting on surging AI demand. Industry reports indicate the chipmaker will expand monthly HBM wafer output to about 100,000 units, narrowing the gap with South Korean rivals. Analysts view the move as a major opportunity to capture a larger share of the lucrative AI memory market.

3. Oracle faces upbeat expectations ahead of next week’s earnings as analysts cite strong cloud momentum. Morgan Stanley forecasts cloud revenue growth near 63%, supported by robust demand for GPU-as-a-service offerings. Positive pricing trends from partners suggest potential upside for margins.

4. Adobe appointed Anil Chakravarthy as its next CEO, signaling a strategic tilt toward enterprise experience solutions. Analysts say the internal promotion highlights continuity but raises questions about Creative Cloud’s future emphasis. Shares slipped on concerns that investors preferred an external hire amid AI disruption.

5. U.S. regulators opened a probe into Tesla’s new Cybercab, scrutinizing compliance with safety standards. NHTSA will assess the absence of conventional controls such as steering wheels and pedals in 1,000 autonomous vehicles. The inquiry adds fresh regulatory uncertainty as the company scales its robo-taxi ambitions.

6. A federal appeals court largely overturned an NLRB ruling against Starbucks, easing legal pressure on the coffee chain. Judges dismissed most allegations of illegal anti-union threats but upheld one count related to maternity benefits. The decision narrows potential remedies while the broader unionization wave at hundreds of stores continues.

7. U.S. nonfarm payrolls increased by 162,000, reinforcing perceptions of a resilient labor market. The stronger-than-expected hiring kept the unemployment rate at 4.1% and pushed Treasury yields higher. Traders now price elevated odds of an additional Federal Reserve rate hike this month.

8. Former President Trump urged the Federal Reserve to cut interest rates, threatening trade measures against surplus nations if it does not act. He argued that elevated borrowing costs disadvantage U.S. competitiveness and cited a Supreme Court tariff ruling to support potential action. The comments stirred debate over the central bank’s policy independence.

9. Shanghai Stock Exchange added Baidu’s Hong Kong shares to the Southbound Stock Connect, boosting cross-border investor access. The inclusion, alongside 53 other equities, prompted a pre-market bounce in Baidu’s U.S. ADRs. Fifteen stocks were simultaneously removed under the latest quarterly adjustment.

10. Bitcoin slipped below $80,000 after strong U.S. jobs data revived rate-hike expectations, dragging crypto-linked stocks. The token’s nearly 3% retreat coincided with a stronger dollar and higher short-term yields. Listed miners and blockchain firms fell between 4% and 11% amid renewed macro headwinds.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: This content is for reference only and does not constitute investment advice.