01 Stock Market

The U.S. major indexes closed as follows: Dow Jones declined 0.77% at 52,380.66; S&P 500 declined 0.48% at 7,636.36; NASDAQ declined 0.64% at 26,253.34.

Chip and megacap technology names dominated the session’s biggest swings. Micron Technology up 2.75% at $1027.77; Meta Platforms up 6.55% at $653.69; SK hynix up 7.05% at $198.63; Advanced Micro Devices up 3.04% at $521.10; Intel up 1.69% at $106.24. On the downside, NVIDIA declined 0.91% at $223.67; Apple declined 0.28% at $315.34; Alphabet (C) fell 2.09% at $328.38 and Alphabet (A) fell 2.28% at $330.65. Tesla fell 0.10% at $367.81, while Amazon.com fell 1.78% at $252.40. Among leveraged products, SOXL up 2.11% at $125.87 and SOXS declined 1.91% at $43.24. Marvell Technology added momentum, up 4.26% at $235.01, whereas Palantir Technologies fell 0.45% at $169.53.

Macro cross-currents restrained broader sentiment despite selective strength. Steady but elevated Treasury yields and nearly $97 per barrel crude reinforced cost and inflation concerns, prompting a defensive tone and keeping overall volumes subdued. Investors rotated toward semiconductor winners while trimming exposure to richly-priced megacaps, resulting in mixed breadth beneath the headline index declines.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.84%.

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

U.S. Dollar Index fell 0.04%, at 98.74.

WTI crude futures rose 0.95%, at 96.96 USD/bbl; COMEX gold futures fell 0.33%, at 4,445.80 USD/oz.

03 Top News

1. Apple unveiled the foldable iPhone Duo, entering the premium foldable market. The new device opens to a 7.6-inch display and starts at $1,999 with up to 2 TB of storage. Analysts expect Apple’s entry to accelerate mainstream adoption of foldables and boost its high-margin hardware segment.

2. Meta Platforms will lose high-profile AI researcher Andrew Tulloch as he departs the company. Tulloch’s exit follows a record-setting compensation package offered last year to bolster Meta’s AI push. The move raises questions about talent retention in the competitive artificial-intelligence arena.

3. Oracle is set to report fiscal first-quarter results, with analysts forecasting higher revenue and profit. Market attention focuses on whether robust cloud demand offsets concerns about the firm’s escalating AI-related capital spending. The stock has fallen roughly 22% over three months, amplifying scrutiny on guidance.

4. GE Aerospace agreed to buy Consolidated Precision Products for $12 billion to secure jet-engine castings. CEO Larry Culp called the acquisition “mission-critical” to alleviate supply bottlenecks in precision components. The move underscores aerospace manufacturers’ shift toward fortifying production capacity.

5. The U.S. Treasury announced plans to repurchase up to $6 billion of long-term bonds. The enlarged buyback aims to enhance market liquidity after recent yield volatility. Benchmark 10-year yields have hovered near multi-year highs around 4.85%.

6. Qualcomm struck a long-term AI chip partnership with Amazon worth up to $60 billion. The decade-spanning deal includes warrants granting Amazon up to 25 million Qualcomm shares tied to purchase volumes. Analysts note the structure illustrates Amazon’s bargaining power while leaving Nvidia’s dominant position largely unthreatened.

7. Lyft appointed Michael Brous as chief financial officer, succeeding Erin Brewer. Brous, an eight-year company veteran, will assume the role on September 28 and receive a base salary of $650,000 plus bonus eligibility. Brewer will stay on as adviser through mid-December to ensure a smooth transition.

8. SK Hynix’s shares soared after reports of a potential ₩40 trillion stock buyback program. Analysts also cited shrinking memory inventories at major suppliers and expectations of double-digit DRAM and NAND price hikes into next year. The bullish outlook pushed the company’s market value above $1.4 trillion.

9. Brent crude oil breached $100 per barrel as Middle East tensions escalated. U.S. strikes on Iranian tankers and retaliatory missile activity fueled supply disruption fears. UBS lifted its year-end Brent forecast to $95, warning of ongoing upside risks.

10. ADP private-sector data showed U.S. employment rose by 12,000 jobs in the latest week. The modest uptick follows a prior gain of 11,750, signaling a steady but slowing labor-market expansion. Investors will watch upcoming official payroll figures for confirmation of cooling employment momentum.

Sources: Reuters, Dow Jones, MT Newswires Live, Thomson Reuters, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.