01 Stock Market
The U.S. major indexes closed as follows: Dow Jones up 0.30% at 53,577.40; S&P 500 up 0.32% at 7,677.28; NASDAQ up 0.66% at 26,151.30. A retreat in energy prices and steady Treasury yields helped all three benchmarks notch moderate gains, with the tech-heavy NASDAQ setting the pace.
Chipmakers and select momentum names dominated the session’s unusual moves. NVIDIA (NVDA) climbed 2.19% at $213.05, while fellow semiconductor plays Advanced Micro Devices (AMD) jumped 4.91% at $479.18 and Marvell Technology (MRVL) added 4.84% at $240.38. Leveraged ETF Direxion Daily Semiconductors Bull 3x Shares (SOXL) gained 4.06% at $115.67, mirroring the sector’s strength. In health care, vaccine maker Moderna (MRNA) surged 14.36% at $158.83. Clean-energy outfit Bloom Energy (BE) rallied 6.58% at $217.45, while crypto-linked exchange Coinbase (COIN) advanced 4.28% at $187.16. Not all tech titans participated: Apple (AAPL) declined 0.14% at $309.90 amid profit-taking.
Overall, semiconductor and AI-related shares provided the bulk of Tuesday’s upside, offsetting weakness in a handful of consumer names. The sector’s outperformance underscores ongoing investor enthusiasm for artificial-intelligence infrastructure, even as pockets of the market—particularly retail-oriented stocks—show signs of strain. With heavyweight chip earnings due shortly, traders rotated into high-beta names, lifting technology to the day’s leadership and helping the broader market finish higher.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 4.64%.
USD/CNH fell 0.01%, at 6.78; USD/HKD rose 0.0008%, at 7.84.
U.S. Dollar Index fell 0.03%, at 98.89.
WTI crude futures fell 1.64%, at 81.01 USD/bbl; COMEX gold futures rose 0.76%, at 4,730.20 USD/oz.
03 Top News
1. Canada announced tariffs of 15%–50% on about $20 billion of U.S. imports. The measures are a “dollar-for-dollar” response to recent U.S. duties on Canadian goods. Ottawa targets steel, aluminum, furniture and dairy, intensifying cross-border trade tensions.
2. U.S. Treasury Secretary Scott Bessent confirmed plans to expand government bond buybacks. The initiative, aimed at improving market liquidity, has prompted fresh debate as investors weigh its impact on long-term yields. Treasury yields slipped as traders assessed the move’s implications for supply-demand dynamics.
3. IMF Managing Director Kristalina Georgieva said the global economy is weathering the Iran-related energy shock better than feared. She noted balanced but still downside-tilted risks, citing high debt and stubborn inflation. Rising bond yields and fiscal strains remain key concerns ahead of next week’s G-20 finance meeting.
4. SpaceX unveiled a plan to invest up to $100 billion in a new “Starbase, Louisiana” rocket complex. The project is expected to create at least 3,000 permanent jobs and host more than a dozen Starship launch pads. Local residents are split over the development’s environmental and economic impact.
5. Russia claimed its forces struck five vessels and port infrastructure in Ukrainian Black Sea ports. Targets reportedly included cargo ships in Pivdennyi and Odesa as well as fuel storage facilities. The assertions could escalate regional tensions and disrupt Black Sea shipping lanes.
6. Nvidia will release quarterly results soon, with analysts expecting revenue and profit to nearly double. Consensus forecasts point to about $92 billion in sales and $2.09 in adjusted earnings per share, driven by surging AI chip demand. Investors await guidance on the company’s growing role in financing large-scale data-center projects.
7. Salesforce is set to report higher second-quarter revenue, spotlighting its Agentforce AI platform. Wall Street expects sales above $11 billion and adjusted EPS of roughly $3.27. The company’s push into AI tools is being closely watched for signs of sustainable growth.
8. Dick’s Sporting Goods lowered parts of its outlook amid weak sneaker sales. Management cited industry-wide promotional pressures and softness at Foot Locker-related categories. The announcement weighed on retail sentiment despite broader market gains.
9. Bank of Nova Scotia and Bank of Montreal both exceeded earnings expectations and downplayed tariff risks. Executives said existing levies affect only about 5% of exports and remain “manageable.” Revenues rose 11% at Scotiabank and 10% at BMO, underscoring resilience in Canada’s banking sector.
10. CIA Director John Ratcliffe made an unannounced trip to Moscow for high-level talks. U.S. officials said the visit may involve warnings over Russian actions in Ukraine and coordination on Iran. The mission highlights ongoing geopolitical complexities facing U.S. foreign policy.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.