01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 1.18% at 52,786.07; S&P 500 declined 0.58% at 7,673.52; NASDAQ declined 0.32% at 26,421.41. The trio slipped for a second session as investors digested fresh geopolitical headlines, supply-chain anxieties and another burst of sector rotation.
Chipmakers stole the spotlight with outsized swings. Intel (INTC) jumped 9.05% at $104.47 after upbeat analyst upgrades and reports of imminent price increases, while Advanced Micro Devices (AMD) surged 5.90% at $505.74 on management’s pledge that its AI opportunity could approach $3 trillion by 2030. Leveraged fund SOXL climbed 5.11% at $123.27, mirroring strength across the semiconductor complex, and optical specialist Lumentum (LITE) rallied 11.04% at $978.53. Electric-vehicle leader Tesla (TSLA) advanced 3.98% at $368.16 amid new promotional incentives in China. On the downside, recent high-flyers cooled: NVIDIA (NVDA) declined 2.01% at $225.73 and Apple (AAPL) fell 1.17% at $316.22 ahead of its product showcase, while renewable-energy play Bloom Energy (BE) gained 9.63% at $277.22 on alternative-power momentum.
Behind the moves, investors balanced growth hopes with caution. Stronger chip demand, buoyant AI spending and pockets of consumer resilience supported certain tech and clean-energy names, yet higher oil prices and diplomatic tensions weighed on broader sentiment. Persistent rate concerns and profit-taking in mega-caps left indexes under pressure even as select growth stories powered ahead.
02 Other Markets
U.S. 10-year Treasury yield rose 0.00%, latest at 4.80%.
USD/CNH fell 0.0015%, at 6.78; USD/HKD was unchanged at 7.84.
U.S. Dollar Index fell 0.02%, at 98.82.
WTI crude futures rose 1.30%, at 94.24 USD/bbl; COMEX gold futures fell 0.93%, at 4,397.50 USD/oz.
03 Top News
1. Houthi drone strikes and U.S. retaliation escalate Middle-East tensions. Iran-backed militants hit multiple Saudi energy installations, while U.S. forces targeted Iranian tankers linked to the Revolutionary Guard. The attacks wounded dozens and ignited oil facilities, raising supply-disruption fears for global energy markets.
2. Canada imposes retaliatory tariffs on 20 billion USD of U.S. goods. The levies on steel, dairy, electronics and other products answer earlier U.S. duties and heighten cross-border trade friction. Businesses on both sides of the border now brace for higher input costs and potential supply-chain adjustments.
3. Novartis trial flop drags Amgen into biotech sell-off. Novartis reported that its heart-disease therapy pelacarsen failed to cut cardiovascular events, prompting a double-digit drop in its shares. Analysts warned of read-across risks for Amgen’s similar drug olpasiran, driving Amgen toward its steepest one-day decline in over two decades.
4. UBS upgrades Lockheed Martin, citing missile demand and election tailwinds. The broker lifted the defense contractor to “Buy”, arguing replenishment of depleted missile inventories and potential bipartisan spending boosts will revive growth. Lockheed’s valuation is viewed as attractive after recent sector underperformance.
5. Novo Nordisk’s Wegovy shows strong results in obese children, expanding market potential. A Phase 3 study found 40% of treated six-to-twelve-year-olds were no longer obese after 16 months. Success could pave the way for regulatory approval in pediatric use, opening a significant new revenue stream for GLP-1 therapies.
6. AMD projects its addressable market could swell to 3 trillion USD by 2030. The CFO told investors that surging demand for GPUs, CPUs and AI PCs underpins expectations, with data-center sales projected to double next year. The outlook reinforced confidence in a prolonged AI investment cycle.
7. Stryker warns of persistent manufacturing bottlenecks, sending shares lower. Management disclosed that supply shortages continue to constrain its peripheral vascular and joint-replacement lines, likely extending into year-end. The update sparked the sharpest daily drop in the medical-device maker since 2022.
8. U.S. and Russian leaders discuss ending Ukraine conflict in hour-long call. Kremlin officials said both presidents agreed on the desirability of a swift resolution, which could reopen broader trade and diplomatic ties. Moscow reiterated it holds no hostile intentions toward Europe while outlining steps Washington might take to facilitate peace.
9. Tesla and over ten automakers launch limited-time price incentives in China. Cash rebates, zero-interest financing and enhanced trade-in offers aim to stimulate September sales without igniting a full-scale price war, according to industry officials. The campaign highlights competitive pressures in the EV and traditional auto segments.
10. Intel reportedly plans a roughly 10% CPU price increase amid global shortages. Industry chatter suggests tight server-chip inventories, with some suppliers down to less than ten days of stock. The move could bolster margins but also ripple through PC and cloud-infrastructure costs.
Sources: Reuters, Dow Jones, Tiger Newspress, MT Newswires, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.