Stocks

The top leaders of China and the U.S. met in the United States, alongside reports that U.S.-Iran negotiations were seeking to reopen the Strait of Hormuz. U.S. stocks recovered part of their losses, with technology stocks leading the gains. At the close, the Dow Jones Industrial Average fell 0.31% to 51,349.98; the Nasdaq Composite Index rose 0.01% to 26,939.37; and the S&P 500 Index dipped 0.02% to 7,704.13.

On September 24, Eastern Time, Meta Platforms (META) reached an intraday price of $777.89, hitting a nearly one-year high. Following the Meta Connect event, JPMorgan raised its price target on the company from $820 to $920 while maintaining an Overweight rating. The core reason is that the monetization path for Muse is becoming increasingly clear, leaving the bank more optimistic about Meta's growth potential beyond advertising.

TradingKey - Both Marvell Technology (MRVL) and Broadcom (AVGO) provide custom AI chips, switching chips, and high-speed interconnect products to cloud service providers, but the two companies differ significantly in business scale and revenue structure.

U.S. stock indexes surged in the short term while crude oil prices fell, reflecting market expectations of a de-escalation in tensions. According to Reuters, negotiators from the U.S. and Iran are in New York exploring a phased path to end the war, with key proposals including Iran reopening the Strait of Hormuz and the U.S. lifting its economic blockade against Iran. New diplomatic developments in the conflict, which has lasted nearly seven months, have provided the market with expectations of easing tensions.

Costco reports fiscal Q4 results Thursday after already disclosing $93.9B in net sales, putting membership growth, margins and EPS in focus.

On September 24, Oracle (ORCL) fell as much as 5% in pre-market trading and dropped over 7% after the market opened. Sparking market concerns was a force majeure notice issued by the company regarding Project Jupiter, a large-scale data center in New Mexico. Investors' focus is shifting from massive AI orders to delivery timelines and capital recovery. According to Bloomberg, Oracle has sent a formal notice to developer Stack Infrastructure, seeking to delay payments if the project fails to become operational as planned in 2028. This move does not imply exiting its position as the primary tenant, nor does it mean a payment waiver has been granted. Oracle maintained that the project is proceeding according to schedule, but did not specifically address the notice itself.