01 Stock Market

As of Mar 3, the U.S. major indexes closed as follows:

The U.S. major indexes closed as follows: Dow Jones down 0.15% at 48,904.78; S&P 500 up 0.04% at 6,881.62; NASDAQ up 0.36% at 22,748.86. Mega-cap technology showed mixed performance, with Microsoft up 1.48% at $398.55 and NVIDIA up 2.99% at $182.48, while Alphabet fell 1.63% at $306.36. Energy names firmed, including Exxon Mobil up 1.13% at $154.22 and Occidental up 2.13% at $54.21, as investors weighed geopolitical risks and commodity moves.

Unusual-move stocks featured AI infrastructure, photonics, and select megacaps with outsized swings. Palantir up 5.82% at $145.17; Applied Optoelectronics up 21.70% at $102.51; Lumentum up 11.75% at $783.25; Ondas up 5.85% at $10.67; Apple up 0.20% at $264.72; Amazon down 0.77% at $208.39; Advanced Micro Devices down 0.79% at $198.62; Taiwan Semiconductor down 1.46% at $369.11; Meta Platforms up 0.83% at $653.56; Berkshire Hathaway down 4.91% at $480.17.

Commodity-linked proxies and leveraged products also swung sharply, highlighting cross-asset ripple effects. SPDR Gold ETF (GLD) up 1.29% at $490.00; silver proxies softened with AGQ down 8.63% at $176.69 and SLV down 4.02% at $81.57. Semiconductor vehicles were mixed: SOXL0.02% at $62.76 and TQQQ up 0.36% at $49.70. These moves came alongside strength in select energy equities and weakness in some large-cap growth names.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.05%.USD/CNH rose 0.00%, at 6.88; USD/HKD rose 0.00%, at 7.82.U.S. Dollar Index fell 0.03%, at 98.54.WTI crude futures rose 0.20%, at 71.37 USD/bbl; COMEX gold futures rose 0.66%, at 5,346.90 USD/oz.

03 Top News

1. Credo Technology reported a quarterly beat, but shares fell as investors focused on margins and guidance. Adjusted EPS came in at $1.07 versus consensus near $0.89, with revenue at $407 million and strong YoY growth. The company guided next-quarter revenue to a midpoint around $430 million and outlined adjusted gross margin of 64%–66%.

2. AST SpaceMobile posted higher revenue and outlined satellite launch milestones, lifting the stock. Revenue reached about $54.3 million and exceeded analyst expectations, while net loss widened as buildout continues. Management signaled revenue growth supported by partner backlog and government milestones ahead of broader service activation.

3. Iran’s Revolutionary Guards announced the closure of the Strait of Hormuz and threatened to attack ships attempting passage. The move risks disrupting roughly a fifth of global oil flows and heightens regional instability. Oil markets are monitoring potential supply interruptions and maritime security responses.

4. Apple launched the lower-priced iPhone 17e, starting at $599, to defend market share. The model targets value-conscious consumers amid intense global competition. The rollout underscores Apple’s tiered strategy to sustain unit momentum across price points.

5. NVIDIA agreed to invest $2 billion in Coherent alongside a multiyear agreement for advanced optics. The pact includes purchase commitments and capacity rights for laser and optical networking products tied to AI data centers. Coherent aims to expand U.S.-based manufacturing and deepen R&D under the partnership.

6. NVIDIA will invest $2 billion in Lumentum to bolster photonics R&D and operations. The backing supports U.S. manufacturing buildout and next-gen optical components for AI infrastructure. Lumentum shares jumped on the announcement amid optimism about capacity expansion.

7. Norwegian Cruise Line guided adjusted earnings below consensus, pressuring the stock. The company projected about $2.38 per share versus expectations near $2.55, citing cost pressures offsetting robust demand. Investors recalibrated margin assumptions as shares declined in recent trading.

8. ASML outlined expansion into advanced packaging and AI-enhanced chipmaking tools beyond EUV. Plans include equipment for bonding and connecting specialized chips and exploring larger chip sizes. The roadmap targets multi-year growth vectors alongside inspection and control software accelerated by AI.

9. Applied Optoelectronics raised guidance and highlighted datacenter strength, fueling a share surge. The company forecast next-quarter revenue between $150–$165 million, above prior estimates, after reporting improved margins. Coverage updates from brokers reinforced optimism around ramping next-gen products.

10. A consortium led by Global Infrastructure Partners and EQT agreed to buy AES for $10.7 billion in cash, pending approvals. The deal values AES at $15.00 per share and includes co-underwriters such as sovereign and pension investors. AES shares fell following the offer terms and expected regulatory review.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: This content is for reference only and does not constitute investment advice.