01 Stock Market
The U.S. major indexes closed as follows: the Dow Jones declined 0.07% at 51,966.03; the S&P 500 rose 0.41% at 7,690.73; and the NASDAQ rose 1.11% at 26,430.89. The tape showed a firmer tone in growth stocks, while the blue-chip average lagged slightly. Semiconductor and AI-linked shares helped stabilize sentiment after recent pressure.
Unusual-move stocks were dominated by sharp swings in Chinese ADRs and selected momentum names. Among the strongest movers, China SXT Pharmaceuticals rose 71.08% at $0.11, MMTec, Inc. rose 14.00% at $6.92, and Huize Holding Ltd rose 13.87% at $1.97. Other notable gainers included Adagene up 11.17% at $2.29, TOP Financial Group Limited up 9.31% at $14.67, and Hesai Group up 4.03% at $12.92. On the downside, Tantech fell 25.11% at $10.20, Xiao I Corp fell 24.66% at $2.20, Planet Green holdings Corp fell 20.73% at $0.52, Cango Inc. fell 29.74% at $2.15, and ATA Creativity Global fell 17.22% at $0.79. Several chip and AI-related names also moved higher, including Silicon Motion Technology up 2.81% at $217.24, NVIDIA up 1.38% at $217.09, and Tesla Motors up 3.76% at $368.06.
As a result, breadth remained mixed: speculative small-cap ADRs were volatile, but large-cap technology and semiconductor leadership supported the broader market. The move in Micron Technology up 2.97% at $904.90 and Marvell Technology up 4.06% at $237.09 echoed renewed interest in storage and AI infrastructure. The session also showed resilience in some internet and platform names such as Amazon.com up 4.98% at $262.45 and Palantir Technologies Inc. up 4.36% at $194.15. By contrast, several education, fintech, and low-priced ADRs remained under pressure.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 5.14.
USD/CNH fell 0.0595%, at 6.72; USD/HKD fell 0.0066%, at 7.85.
U.S. Dollar Index rose 0.0098%, at 101.97.
WTI crude futures fell 0.29%, at 98.25 USD/bbl; COMEX gold futures fell 0.12%, at 4,155.30 USD/oz.
03 Top News
1. 3M expanded its commercial partnership with Amazon and issued a warrant tied to future business. The agreement gives an Amazon subsidiary the right to buy up to 3.16 million 3M shares over seven years at $164.89 each. 3M said most of the warrant will vest as Amazon buys optical connectivity and other data-center products, with part of the package linked to $6 billion in purchases. The deal underscores how AI infrastructure spending is reshaping supplier relationships.
2. Steel Dynamics reported weaker-than-expected profit despite strong shipments and revenue. The company posted quarterly earnings of $5.26 per share versus the $5.41 estimate. Revenue came in at $6.51 billion, above expectations, but lower recycling earnings, aluminum startup losses, and higher raw material costs pressured results. Shares fell in extended trading after the report.
3. Netflix prepared to report earnings while layoffs and leadership changes drew attention. The company said it had cut about 6% of staff, mainly in technical and corporate functions. It also replaced its chief content officer with a former Disney executive. Investors are watching whether improved profits and revenue can offset weaker engagement trends and recent churn concerns.
4. Intel won a fresh vote of confidence from J.P. Morgan after years of skepticism. Analyst Harlan Sur abandoned his long-running negative stance on the stock, citing better manufacturing and chip design progress. He said Intel’s data-center and AI server business has improved under new leadership. The call suggests the market may be reassessing Intel’s competitive position in semiconductors.
5. Nvidia gained another customer for its central processors in the fast-growing AI startup market. Modal said it plans to begin using Nvidia’s new Vera processor for hosting AI agents. The startup had relied on Intel and AMD chips until now. Early tests reportedly showed the Nvidia chip doubled the work AI agents could complete, helping validate Nvidia’s push beyond GPUs.
6. S&P Global warned that major hyperscalers may have more AI-linked liabilities than publicly visible. The agency said financing structures around large data-center projects may be hiding additional debt exposure. It noted that top U.S. hyperscalers are expected to spend trillions of dollars on AI-related capex over several years. The warning adds another layer of scrutiny to the AI buildout trade.
7. Morgan Stanley raised Amazon to a top pick and lifted its price target. The firm increased its target to $350 from $335, citing durable AWS growth and multiple catalysts ahead. The analyst said Amazon remains a key AI winner even as new consumer AI tools could change e-commerce behavior. The upgrade reinforced bullish positioning around cloud and retail integration.
8. Saudi Arabia moved to avoid an in-person investor conference amid regional security risks. Organizers said the flagship forum may be held virtually or postponed. The decision reflects escalating missile threats and growing logistical concerns. It also complicates the kingdom’s efforts to attract foreign capital and showcase its economic agenda.
9. The Federal Reserve was seen likely to hold rates steady before resuming hikes later. UBS analysts said the central bank may leave policy unchanged in the near term and then raise rates in later meetings. They cited inflation that is not accelerating but remains stubbornly elevated. The outlook keeps policy uncertainty high for rate-sensitive assets.
10. Anthropic was reported to be preparing a new model with stronger reasoning capabilities. Media reports said the model is designed to infer users’ deeper intent from limited input. It is also said to move beyond conventional responses more effectively than current offerings. The development highlights continuing competition in advanced AI model design.
Sources: Reuters, Dow Jones, Tiger Newspress, public market dataDisclaimer: This content is for reference only and does not constitute investment advice.