Market
October 13, U.S. stocks opened mixed: the Dow Jones gained 0.72% as defensive buying lifted blue chips, while the S&P 500 dipped 0.07% and the tech-heavy Nasdaq Composite fell 0.35%. Softer inflation data eased Treasury yields but investors rotated out of rate-sensitive growth names and into healthcare and staples.
Semiconductor losers led early trading: Seagate Technology PLC falls 6.97% after a brokerage downgrade, Western Digital slides 6.20% on memory-price concerns, Micron Technology drops 5.43% following a weak outlook, SK hynix retreats 5.79% in sympathy, and Marvell Technology sheds 5.00% on cloud-spending worries. On the upside, UnitedHealth jumps 4.17% after topping estimates, Apple gains 1.77% on stronger iPhone demand chatter, Microsoft advances 1.48% with new Copilot features, and Alphabet adds 1.27% as advertisers praise its AI search tools.
Broader movers were volatile: Direxion Daily Semiconductor Bear 3x Shares surges 8.28% as traders hedge chip exposure, Xiao I Corp soars 36.25% on a reported chatbot partnership, Yunji rallies 24.86% after unveiling a cross-border e-commerce plan, iHuman climbs 9.17% on upbeat enrollment data, and TOP Financial Group rises 3.37% amid retail-trading momentum.
News
UnitedHealth beats expectations and raises guidance. The insurer’s medical-cost ratio improved more than forecast, easing margin fears and boosting the Dow’s opening gains.
Micron Technology issues soft revenue outlook. Management cited ongoing inventory digestion in data-center memory, triggering a sector-wide selloff in storage names.
Apple reportedly boosts next-gen iPhone build plan. Supply-chain checks point to stronger flagship demand, lifting sentiment toward the company’s holiday quarter.
NVIDIA faces FTC inquiry over AI-chip pricing. Regulators are examining potential anticompetitive practices, prompting profit-taking in the high-flying stock.
SEC approves first spot Ethereum ETFs. Crypto-linked shares jumped pre-market before paring gains as investors assessed fee structures and timing.
CPI print shows moderating core services inflation. Bond yields edged lower, supporting defensive equities but adding pressure on bank net-interest margins.
Tesla cuts Model Y prices for a third time this quarter. The deeper discounts stoked margin concerns and sent the EV maker’s shares down in early trading.
Alphabet unveils Gemini-powered enterprise AI suite. Early client sign-ups suggest incremental cloud revenue opportunities, underpinning the stock’s advance.
Marvell Technology lowers full-year revenue forecast. Management flagged slower hyperscale orders, intensifying the morning drop across networking chip suppliers.
White House signs expanded CHIPS 2.0 subsidy bill. The legislation allocates additional incentives for U.S. fabs, but critics question execution amid ongoing supply-chain delays.