Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.13% at 53,839.99; S&P 500 up 0.65% at 7,798.99; NASDAQ up 0.81% at 26,803.03. A firm tech bid underpinned the broader market, with semiconductors and AI-linked names once again in the spotlight.

Memory, AI and electric-vehicle leaders dominated the day’s unusual moves. Micron Technology (MU) up 4.23% at $949.83; SanDisk (SNDK) up 13.67% at $1,528.11; Intel (INTC) up 3.58% at $104.56; leveraged chip fund SOXL up 2.25% at $145.36, while its bearish counterpart SOXS declined 2.07% at $40.12. Graphics giant NVIDIA (NVDA) up 0.54% at $225.30; data-center specialist SK hynix (SKHY) up 7.29% at $165.67; and leveraged play SNXX up 27.28% at $14.09 all caught bids.

EV bellwether Tesla Motors (TSLA) up 3.80% at $339.96, while space pioneer SpaceX (SPCX) declined 3.33% at $141.29.

Broader tech strength extended to diverse innovators. Cloud-analytics name Palantir (PLTR) up 4.66% at $179.01; storage leader Western Digital (WDC) up 7.31% at $487.29; connectivity firm Marvell Technology (MRVL) up 2.35% at $222.18; consumer-tech titan Apple (AAPL) up 1.00% at $305.26; social-media heavyweight Meta Platforms (META) up 2.78% at $594.97; and megacap software provider Microsoft (MSFT) up 0.90% at $496.88.

On the downside, laser-component maker Coherent (COHR) declined 7.99% at $327.23, while wireless-tech firm Ondas (ONDS) declined 8.80% at $8.91.

Overall, the session reinforced investors’ preference for AI hardware and data-infrastructure themes.

Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.64%.

USD/CNH rose 0.02%, at 6.79; USD/HKD rose 0.01%, at 7.85.

U.S. Dollar Index fell 0.03%, at 99.93.

WTI crude futures fell 0.21%, at 80.27 USD/bbl; COMEX gold futures fell 0.22%, at 4,410.60 USD/oz.

Top News

1. Applied Materials plans to double semiconductor system output by 2028. Executives said new manufacturing capacity and support teams will be added to meet robust AI chip demand. Higher pricing is expected to lift margins while long-term growth is anchored in DRAM and advanced packaging.

2. Micron Technology launched a $250 million Paradigm Fund to back AI startups. The initiative spans the full AI stack, raising Micron Ventures’ committed capital to $550 million. Management said the move will accelerate innovation and boost future demand for its memory and storage products.

3. U.S. appeals court revived a $6.7 billion lawsuit against Bristol Myers Squibb over Celgene drug approvals. Judges ruled that trustee UMB Bank can pursue claims that delays in FDA approvals cheated former Celgene shareholders. The revival reopens litigation related to contingent value rights from the 2019 acquisition.

4. SanDisk projected hefty margins and cash returns at its Investor Day, sending shares up sharply. Management outlined targets for about 80% non-GAAP gross margin and 100% excess cash returns. The company expects the flash memory market to approach $500 billion by 2027.

5. Google reorganized its DeepMind unit to speed development of the Gemini AI model. Deputy Koray Kavukcuoglu took over day-to-day leadership as Demis Hassabis became chair. Industry insiders say the shake-up aims to close performance gaps with OpenAI and Anthropic.

6. Applied Materials issued fourth-quarter revenue guidance of about $10.25 billion, topping estimates. Despite the upbeat forecast, shares slipped as investors had priced in even stronger growth. Analysts cited elevated expectations following robust results from peers.

7. U.S. producer price index growth eased to 4.7% year-on-year in July, below forecasts. Flat monthly readings and lower energy costs pointed to cooling wholesale inflation. The data supports views that price pressures are gradually moderating.

8. Weekly U.S. jobless claims rose by 9,000 to 209,000, indicating a stable labor market. Claims remain near the low end of this year’s range, suggesting resilient employment. Economists see the trend giving the Federal Reserve room to keep rates unchanged in upcoming meetings.

9. Iran warned that vessels need its permission to transit the Strait of Hormuz. The joint military command asserted full control of the critical oil chokepoint and rejected U.S. security assurances. The statement adds geopolitical risk to global energy markets.

10. Defendant Luigi Mangione is expected to plead guilty in a federal stalking case linked to the killing of a health-insurance CEO. A plea could avert a high-profile trial and may delay separate state murder proceedings. Prosecutors and defense attorneys requested a joint hearing to formalize the agreement.

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