Market

October 5, U.S. stocks opened on a cautiously upbeat note as the Dow Jones slipped 0.05%, the S&P 500 inched up 0.15%, and the NASDAQ advanced 0.22%. Softer services-sector data and easing Treasury yields tempered macro worries while investors awaited this week’s key payrolls report for further policy clues.

Vaxcyte, Inc. surged 53.36% after upbeat vaccine trial results, Western Digital jumped 5.63% on plans to split its flash and HDD businesses, Seagate Technology PLC climbed 4.69% on a restructuring update, Vistra Energy Corp. rose 3.68% following a renewable-asset deal, Marvell Technology gained 2.10% on new AI data-center chips, Microsoft added 2.07% as it raised AI subscription targets, and NVIDIA ticked up 0.78% in a broader semiconductor rebound. On the downside, United Microelectronics tumbled 9.27% after a weak outlook, Intel fell 2.96% on a server-chip delay, Advanced Micro Devices slipped 1.99% amid soft PC demand, and Tesla Motors eased 1.09% after a delivery miss.

Elsewhere, Cerebras Systems jumped 9.36% on fresh AI partnership headlines, CRITICAL METALS CORPORATION rallied 5.97% with metals prices rebounding, VNET Group climbed 3.51% on takeover chatter, GDS Holdings Ltd gained 3.48% amid cloud-infrastructure optimism, ProShares Ultra Silver rose 2.85% alongside bullion strength, and Taiwan Semiconductor Manufacturing firmed 1.36% after outlining 2-nanometer production plans; Rocket Lab USA, Inc. lagged, slipping 2.26% on launch-schedule concerns.

News

Vaxcyte, Inc. posts strong Phase 3 vaccine results, shares climb 53%. The company said its 24-valent pneumococcal candidate met all primary endpoints, boosting hopes for an FDA filing later this year. Analysts see multibillion-dollar revenue potential.

Western Digital announces flash-HDD split, stock jumps 6%. The storage maker will separate its NAND unit to unlock value and streamline operations. Completion is expected in the second half of next year.

Intel delays next-generation Xeon rollout, shares fall 3%. Management cited additional validation time and supply constraints, pushing mass production to mid-2027. The slip fuels concerns over competitive pressure.

United Microelectronics cuts revenue outlook, tumbles 9%. The foundry blamed weak smartphone demand and inventory adjustments for the downgrade, sparking fears of margin compression.

Tesla Motors misses Q3 delivery expectations, slides 1%. The EV leader shipped about 445,000 vehicles, roughly 20,000 below consensus, raising questions about full-year targets.

Microsoft lifts AI subscription guidance, gains 2%. Strong early demand for its Copilot offering prompted an upward revision to revenue forecasts, underscoring momentum in enterprise AI adoption.

Seagate Technology PLC unveils $500 million cost-cut plan, rises 5%. The company also guided for better-than-expected current-quarter sales, citing improving storage demand.

Vistra Energy Corp. to buy 2 GW renewable portfolio, up 4%. The $3 billion deal expands the utility’s solar and battery assets in Texas and California and is expected to be immediately accretive.

Advanced Micro Devices slips 2% on soft PC shipment data. Industry research showed another quarterly decline in global PC volumes, pressuring expectations for AMD’s client business.

ISM services index cools, Treasury yields retreat. The gauge fell to a nine-month low, signaling moderating economic momentum and reducing fears of imminent Fed tightening, providing a tailwind for equities.