Post-Bell | S&P 500 Ends up Slightly as Tech Dips, Inflation Cools; Apple, Nvidia Fall over 2%; Moderna Jumps 5%; Applied Materials Gains 8%; Rivian Rockets 27%

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.10% at 49,500.93; S&P 500 up 0.05% at 6,836.17; NASDAQ down 0.22% at 22,546.67. Moves were relatively modest as investors assessed mixed performance among mega-cap technology names and strength in select cyclical and thematic plays. Price action reflected rotation tied to earnings and policy headlines, with breadth aided by crypto-related and precious metals-linked stocks.

Unusual-move stocks showed notable divergence, with crypto-linked and precious metals names outperforming while several megacaps declined. COIN up 16.46% at $164.32; AGQ up 5.93% at $133.16; NET up 5.77% at $195.85; SLV up 2.94% at $69.72; SOXL up 2.36% at $64.59; TQQQ up 0.44% at $48.47; QQQ up 0.21% at $601.92; SPY up 0.07% at $681.75; TSLA up 0.09% at $417.44; AMD up 0.67% at $207.32; INTC up 0.67% at $46.79; NFLX up 1.33% at $76.87; while NVDA down 2.21% at $182.81; AAPL down 2.27% at $255.78; META down 1.55% at $639.77; GOOG down 1.08% at $306.02; MSFT down 0.13% at $401.32; AMZN down 0.41% at $198.79; MU down 0.56% at $411.66; VRT down 0.84% at $234.53; and BABA down 1.89% at $155.73.

Media coverage highlighted crypto strength and precious metals tailwinds, while policy and earnings news weighed on select tech and China ADRs. Reports of the U.S. Defense Department adding firms including Alibaba and Baidu to a list of entities allegedly aiding the Chinese military coincided with pressure in related ADRs, while crypto enthusiasm supported COIN and metals proxies such as AGQ and SLV. Earnings updates around AI infrastructure—such as Applied Materials—and network demand contributed to rotation within semis and software, with investors balancing growth narratives against margin and capex considerations.

02 Other Markets

U.S. 10-year Treasury yield fell by 1.17%, latest at 4.06.

USD/CNH rose 0.1101%, at 6.91; USD/HKD fell 0.0013%, at 7.82.

U.S. Dollar Index fell 0.0165%, at 96.89.

WTI crude futures fell 0.05%, at 62.81 USD/bbl; COMEX gold futures rose 2.33%, at 5,063.80 USD/oz.

03 Top News

1. The U.S. Federal Circuit upheld the USPTO discretionary patent review policy, and Apple and Google lost their challenge. A three-judge panel affirmed that the internal rule was a general statement of policy not requiring notice-and-comment. The decision limits large tech companies’ access to inter partes review, potentially increasing litigation exposure.

2. Meituan said it expects a net loss of up to RMB 24.3 billion, reversing from a prior profit. The company cited an operating loss in its core business as the main driver. ADRs weakened in recent trading, reflecting concern over profitability trends.

3. The U.S. Defense Department added companies including Alibaba and Baidu to a list of firms allegedly aiding the Chinese military. The designation could increase scrutiny and potential restrictions for affected entities. Shares of some related ADRs fell in recent trading amid policy risk repricing.

4. The U.S. Bureau of Labor Statistics reported CPI rose 0.2% month-on-month and 2.4% year-on-year, less than expected. Core CPI increased 0.3% month-on-month and 2.5% year-on-year. The data supports the case for the Federal Reserve to keep rates unchanged for a while, with markets parsing implications for the policy path.

5. The Senate Banking Committee agreed to proceed with hearings for Kevin Warsh as Fed nominee, according to the U.S. Treasury. Officials emphasized continuity and independence at the Federal Reserve. The move aims to advance the confirmation process despite political holds.

6. Moderna beat quarterly revenue expectations on resilient COVID-19 vaccine sales. Reported revenue of about $678 million exceeded consensus, supporting its mRNA platform narrative. Management reiterated an outlook for 10% revenue growth in the coming year, underpinning pipeline confidence.

7. Hang Seng Indexes Company added CATL, CMOC, and Laopu Gold to the HSI, while removing Zhongsheng Holdings. The changes will take effect following the scheduled implementation window. Index rebalances can trigger passive flows and positioning shifts in affected constituents.

8. Applied Materials beat earnings and raised guidance, highlighting robust AI equipment demand. Management signaled potential semiconductor business growth of over 20% this year. The update reinforced order visibility tied to AI processors and memory dynamics.

9. Rivian reported a surprise gross profit and guided deliveries higher, lifting investor confidence. The EV maker pointed to improved unit economics and a delivery outlook in the 62,000–67,000 range. The update supported sentiment around scaling and cost efficiency.

10. Roku beat earnings and raised annual revenue guidance on ad-supported streaming momentum. Management highlighted stronger platform monetization and subscription channel performance. The outlook reflects anticipated increases in signups and improved ad inventory utilization.

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

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