01 Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.75% at 50,063.46; S&P 500 up 0.77% at 7,501.24; NASDAQ up 0.88% at 26,635.22. A broad rebound in technology shares—particularly within the semiconductor space—helped propel all three benchmarks to fresh multi-week highs, as investors digested a busy slate of earnings, an eye-catching IPO and generally resilient U.S. data.

AI-linked names dominated the session’s unusual moves. Newly listed Cerebras Systems (CBRS) surged 68.15% to $311.07 after its blockbuster debut, while optical-engine specialist POET Technologies (POET) rallied 43.15% to $20.57. Wireless-drone group Ondas Holdings (ONDS) jumped 26.52% to $11.21 on a bulging order backlog, and Taiwan Semiconductor Manufacturing (TSM) advanced 4.48% to $417.72 on renewed chip optimism. Among mega-caps, NVIDIA (NVDA) rose 4.39% to $235.74, whereas memory giant Micron Technology (MU) declined 3.44% to $776.01. In broader tech, Intel (INTC) fell 3.62% to $115.93 and Qualcomm (QCOM) slid 6.14% to $200.08 after mixed analyst commentary.

Moves were mixed across consumer and internet bellwethers. E-commerce heavyweight Alibaba (BABA) declined 3.22% to $141.12, and social-commerce leader PDD Holdings (PDD) fell 4.04% to $95.58. Conversely, Apple (AAPL) eased only 0.22% to $298.21 as upbeat sell-side calls offset profit-taking, while leveraged tech tracker ProShares UltraPro QQQ (TQQQ) gained 2.21% to $78.95, reflecting momentum in growth shares. Semiconductor-focused ETF Direxion Daily Semiconductors Bull 3x Shares (SOXL) edged up 1.06% to $186.19, whereas its inverse peer SOXS slipped 0.96% to $8.27, underscoring bullish sentiment in chips.

02 Other Markets

U.S. 10-year Treasury yield was unchanged, latest at 4.46%.

USD/CNH was steady at 6.84; USD/HKD rose 0.0004%, at 7.83.

U.S. Dollar Index rose 0.0152%, at 98.88.

WTI crude futures rose 0.83%, at 97.72 USD/bbl; COMEX gold futures fell 0.42%, at 4,665.40 USD/oz.

03 Top News

1. Cerebras Systems completed the year’s largest U.S. IPO, soaring on debut. The AI-chip maker priced shares at $185, raising $5.55 billion for a fully diluted valuation near $56 billion. Its wafer-scale inference processors aim to challenge Nvidia’s dominance in AI hardware.

2. POET Technologies inked a $50 million supply agreement with Lumilens for AI optical engines. The deal includes an initial purchase order and warrants that could scale cumulative sales to $500 million over five years. Engineering samples are slated for late 2026 with volume production in 2027.

3. Cisco beat quarterly estimates and lifted full-year guidance while announcing workforce reductions. Revenue topped projections on strong AI-network orders exceeding $5 billion to date. About 4,000 jobs will be trimmed as the company reallocates resources toward silicon, optics and security.

4. U.S. retail sales grew 0.5% in April, signaling steady consumer demand. Higher gasoline prices contributed to the gain, while core retail sales also advanced 0.5%. Economists caution that diminishing tax-refund buffers could curb spending later this year.

5. Weekly jobless claims rose to 211,000, pointing to a stable labor market. Continuing claims ticked up to 1.782 million, yet overall hiring remains solid. Analysts view the data as consistent with gradual cooling rather than sharp weakness.

6. Ford outlined a $2 billion push into grid-scale energy storage, boosting its shares. The automaker will leverage LFP battery technology licensed from CATL and repurpose Kentucky plant space. First customer deliveries are targeted for 2027 with capacity of at least 20 GWh annually.

7. Klarna returned to profitability but issued a cautious revenue outlook. First-quarter operating income hit $17 million on 44% sales growth, yet guidance of up to $1 billion next quarter lagged analyst expectations. Management emphasized balancing growth with margin expansion.

8. AI cloud provider Nebius reported an eightfold revenue jump and expanded capex plans. Quarterly sales reached $399 million, outpacing forecasts as demand outstrips capacity. The firm now expects $20–25 billion in annual capital spending to add more than 4 GW of power.

9. Intel ceded server-CPU market share to AMD and Arm, according to UBS. Analysts estimate Intel’s share slipped to 54.9% as rivals gained ground. Despite rising total server shipments, the report triggered renewed concerns over Intel’s competitive positioning.

10. Canada Goose projected low single-digit revenue growth for fiscal 2027, below consensus. The luxury parka maker cited softer demand despite stepped-up marketing. Investors remain focused on execution of its direct-to-consumer strategy amid a challenging discretionary-spending backdrop.

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