TradingKey - Top leaders of China and the U.S. met in the United States, while reports indicated that U.S.-Iran negotiations are seeking to reopen the Strait of Hormuz. U.S. stocks recovered some of their losses, with tech stocks leading the gains.

At the close, the Dow Jones Industrial Average fell 0.31% to 51,349.98 points; the Nasdaq Composite Index rose 0.01% to 26,939.37 points; and the S&P 500 Index fell 0.02% to 7,704.13 points.

Tech Stock Performance

Meta Platforms (META) rose 4.5% to $777.59.

Following the Meta Connect conference, JPMorgan raised the company's price target from $820 to $920 while maintaining an Overweight rating. The core reason lies in the increasingly clear monetization path for Muse, leaving the bank more optimistic about Meta's growth prospects beyond advertising. Zuckerberg stated at the conference that Meta will charge a small transaction fee on transactions completed through Muse in the future. Currently, the scale of Muse monetization remains limited, potentially involving only a small number of heavy-usage subscriptions. A transaction cut implies that its revenue source is expected to expand from user payments to platform-facilitated commercial activities, though the actual scale remains to be realized. Muse Connector is key to the implementation of this model. The platform has received over 2,000 integration applications, added partners such as Walmart, and opened APIs to developers. The integration of merchants and services provides a foundation for Muse to facilitate transactions, but integration applications do not equate to actual transaction revenue.

Among mega-cap tech stocks, Meta Platforms (META) rose 4.50%, Alphabet-A (GOOGL) gained 1.34%, Alphabet-C (GOOG) gained 1.20%, TSMC (TSM) gained 1.03%, and Amazon (AMZN) gained 0.04%; among decliners, Broadcom (AVGO) fell 1.30%, Tesla (TSLA) fell 0.57%, Microsoft (MSFT) fell 0.53%, Nvidia (NVDA) fell 0.41%, and SpaceX (SPCX) fell 0.22%.

[Source: FutuBull]

The Philadelphia Semiconductor Index fell 0.33% to 12,492.54 points. Among its 30 constituents, 10 advanced and 20 declined.

Company News

Google Launches Real-Time "Digital Human" Conversations on Gemini 3.8 Live

Google Cloud's Gemini 3.8 Live with Live Avatar feature is now fully available to enterprise users, integrating real-time video avatars with multilingual voice conversation capabilities. This marks a shift in enterprise conversational AI from voice-only interaction to multimodal visual interaction. The feature officially rolled out this week on Gemini Enterprise, following a preview at Google Cloud Next 2026.

Oracle Issues Sudden "Force Majeure" Notice

Oracle has issued a "force majeure" notice to the developer of Project Jupiter, raising concerns that the New Mexico data center project—designed to provide OpenAI with $300 billion in computing power—will not begin operations by 2028 as scheduled. The project was already facing regulatory and financing pressures, with related loans falling to distressed levels. This notice further heightens market concerns over the project's execution and the stability of its financing chain.

Industry & Macro News

US, Iran Reportedly Negotiate to Reopen Strait of Hormuz, Discussing Phased Arrangement

According to sources close to the talks, U.S. and Iranian negotiators are exploring a phased solution in New York, which includes Iran reopening shipping lanes in the Strait of Hormuz and the U.S. lifting its economic blockade on Iran. People familiar with the matter said the Strait of Hormuz has become the core bargaining chip to end the nearly seven-month U.S.-Iran conflict. Sources said the Iranian side, recognizing the economic pressure from a prolonged confrontation, is considering a phased arrangement, where the first step could be restoring navigation through Hormuz alongside an easing of the U.S. economic blockade, while Iran might obtain a partial unfreezing of its frozen assets.

Fed's Williams: Another Rate Hike Before Year-End Is Reasonable

Fed's Williams stated that we have seen the U.S. economy show remarkable resilience, and downside risks to achieving full employment have diminished. He also noted that inflation faces major challenges, while demand for artificial intelligence is quite strong. He said that we need to return inflation to the target level in a timely manner, and another rate hike before the end of the year is reasonable.

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