Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.49% at 51,521.28; S&P 500 up 0.58% at 7,818.93; NASDAQ up 0.45% at 27,599.89. The advance was broad enough to keep the tone constructive, with the S&P 500 and NASDAQ both higher and the Dow also extending gains. The move suggested investors continued to favor large-cap growth and AI-related exposure into the close.

Among unusual-move stocks, Marvell Technology, Broadcom, Advanced Micro Devices, Constellation Energy, and Option Care Health stood out, while Seagate Technology, Western Digital, Micron Technology, and Moderna were among the notable decliners.

Marvell Technology rose 5.81% at $287.01, Broadcom rose 3.67% at $375.81, and Advanced Micro Devices rose 2.80% at $649.42, reflecting continued interest in AI and data-center hardware.

Constellation Energy rose 12.25% at $300.40, while Option Care Health was highlighted in related coverage after a reported acquisition approach.

On the downside, Seagate Technology fell 9.18% at $805.63, Western Digital fell 6.93% at $411.04, Micron Technology fell 1.73% at $1,045.56, and Moderna fell 7.75% at $187.46.

Several Chinese and small-cap names also posted sharp moves, led by Freight Technologies, Tantech, Futu Holdings, and GDS Holdings. Freight Technologies jumped 31.43% at $0.32, Tantech surged 20.40% at $16.88, and Futu Holdings rose 3.20% at $113.21. GDS Holdings advanced 5.94% at $31.03, while Cango gained 11.03% at $3.02 and Youdao rose 7.93% at $16.87.

Among weaker names, China SXT Pharmaceuticals fell 39.90% at $1.25 and MindForge fell 20.28% at $11.40, showing how uneven the day’s speculative tape remained.

Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 5.27.

USD/CNH rose 0.0119%, at 6.73; USD/HKD fell 0.0015%, at 7.85.

U.S. Dollar Index rose 0.0295%, at 101.87.

WTI crude futures rose 0.41%, at 89.81 USD/bbl; COMEX gold futures rose 0.09%, at 4,190.90 USD/oz.

Top News

1. Marvell raised its long-term revenue outlook, lifting AI-chip optimism. The company said it now targets about $80 billion in revenue by fiscal 2031. It also lifted its fiscal 2029 custom AI accelerator revenue target, which investors read as evidence that AI infrastructure spending remains durable. The stock moved higher in related trading after the update.

2. Marvell unveiled a stronger fiscal 2028 sales forecast on data-center demand. The company raised its fiscal 2028 revenue target to about $20 billion, above market expectations. Management tied the upgrade to demand for custom data-center chips and broader AI spending. The announcement helped support gains across selected chip and optical-gear names.

3. Google signed a major power deal with Constellation Energy. The companies said Google contracted for 3,590 megawatts of power from Constellation in a U.S. grid region. The arrangement is expected to support more than $4.3 billion of new investment. The agreement added momentum to Constellation’s shares.

4. McKesson and Clayton Dubilier & Rice moved closer to buying Option Care Health. A report said the parties were nearing a deal valued at more than $5 billion including debt. The transaction would expand their exposure to infusion services. Option Care Health rallied sharply on the news.

5. Citi boosted its price target on AMD as agentic AI demand broadened. The firm raised its target to $800 from $575. It argued that AI agents could drive substantially higher compute demand than traditional chatbots. AMD also said it plans to increase supply materially in coming years.

6. Goldman Sachs and Morgan Stanley lifted views on SpaceX. Goldman increased its price target to $230 from $220, while Morgan Stanley reiterated an overweight view. The notes pointed to ongoing AI-related opportunity and potential strategic importance from a company name change. The stock extended its recent gains in related trading.

7. Reuters reported software stocks climbed as AI disruption fears eased. The piece said the S&P 500 software and services index rose 1.3% in the prior session. It cited strong earnings and AI partnerships from several large software firms. The broader message was that the market is rewarding software businesses that can monetize AI rather than be displaced by it.

8. Seagate and Western Digital fell after a report on HDD acquisition competition. Bloomberg-linked coverage said Seagate and Toshiba are competing for a TDK magnetic-head business. The report raised supply-chain and antitrust questions for the hard-disk industry. Both Seagate and Western Digital were weaker in related trading.

9. Apogee Enterprises raised guidance after a stronger quarter. The company lifted its fiscal 2027 outlook after better-than-expected first-half performance. It also reported adjusted earnings of $1.17 a share on revenue of $391.1 million, both above estimates. Shares jumped as investors responded to the improved outlook.

10. Treasury auction focus kept pressure on bond-market watchers. The Treasury Department scheduled a fresh round of note and bond sales, including a 10-year auction. Market participants are watching demand closely after yields moved higher. The setup underscores how government supply can influence financing costs across markets.

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