Today’s Market Recap: Chip-Led Rally Drives Nasdaq and S&P 500 to Records，Micron Surges 19%

Tracking the Market Trend

TradingKey - The S&P 500 rose 0.61% to 7519.12 to notch fresh intraday and closing records, and the Nasdaq Composite climbed 1.19% to 26656.18 on a powerful chip-led surge. The Dow Jones Industrial Average slipped 0.23% to 50461.68 as healthcare and energy stocks dragged.

Leading the advance, Micron Technology (MU) jumped over 19% and topped a $1 trillion valuation during the day after an aggressive UBS upgrade. Other AI-linked semiconductor stocks, such as Advanced Micro Devices (AMD) and Qualcomm (QCOM), rose, alongside mega-caps like Alphabet (GOOGL).

Dow healthcare components, including UnitedHealth (UNH) and Merck (MRK), declined, contributing to the blue chip index’s underperformance. Space stocks such as Rocket Lab (RKLB) and Firefly Aerospace (FLY) surged.

BTC dipped slightly by about 0.4% in the last 24 hours, closing at $76952. However, the spot Bitcoin ETF saw a net outflow of $1.26 billion in a single week, with whales depositing over 11000 BTC into exchanges, indicating clear selling pressure.

 Gold surged to $4615 during the session before plunging over $130, closing down 1.45% at $4504.

Market Headline

U.S. media claim Washington has quietly resumed escort operations in the Strait of Hormuz, but the U.S. military denies this, and the risk to oil shipping remains far from over. According to reports, a Greek tanker carrying two million barrels of crude oil received U.S. Navy guidance while transiting the strait along the coast of Oman. The Navy plans to assist more than a dozen vessels, including tankers and container ships, over the coming days. U.S. military officials, however, say they are only maintaining routine liaison and navigation coordination and have not restarted "Operation Freedom."

The ceasefire agreement is effectively dead. Iran has opened fire in retaliation for U.S. airstrikes. Mojtaba Khamenei, Iran's Supreme Leader, said Middle Eastern countries will no longer provide sanctuary for U.S. forces. The Islamic Revolutionary Guard Corps fired at a U.S. F-35 fighter jet and several drones that had entered Iranian airspace over the Persian Gulf. Brent crude oil prices spiked sharply, rising more than 3% intraday.

Iran accuses the United States of violating the ceasefire agreement, and the unfreezing of overseas funds remains the main sticking point in talks. Military clashes and diplomatic maneuvering between the two sides are escalating in parallel. Washington says its defensive strikes were aimed at countering Iranian threats such as laying naval mines. Tehran then shot down a U.S. drone and returned fire. On the negotiation front, the two sides remain deadlocked over the release of $24 billion of Iran’s overseas assets. Iran demands that half be unfrozen immediately upon the signing of a memorandum of understanding, insisting that "no agreement can be reached" until the promised funds are in place.

Micron Technology's market capitalization surpassed $1 trillion, with shares closing up 19.3%, marking its largest single-day gain since 2011. The stock has risen eightfold over the past year. UBS noted that long-term agreements (LTAs) with partially fixed pricing are expected to smooth Micron's earnings volatility and reduce its cyclicality, driving a valuation re-rating.

The Pentagon was reportedly "held hostage" by SpaceX: Starlink terminal monthly fees increased fivefold, sparking a heated dispute, which Musk denied. According to media reports, during the Iran-Iraq War, SpaceX demanded that the monthly fee for Starlink terminals used for suicide drones be increased from $5,000 to $25,000. The Pentagon protested but ultimately accepted the price increase. Musk subsequently responded that the reports were "untrue." Starlink currently has over 60% of the world's satellites in orbit and is deeply integrated into the US military's operational system; no other company on the market can currently provide a comparable alternative.

Elon Musk officially announced that Grok 5, with 1.5 trillion parameters, has completed training, three times the size of current mainstream models. It is understood that the model training heavily utilized Cursor programming data to significantly improve code generation capabilities. Combined with his previous $60 billion investment in Cursor and the official launch of the Grok Build programming agent, Musk has completed his three-step strategy in the AI ​​programming arena, aiming directly at a head-on confrontation with giants like OpenAI and Anthropic in June.

South Korean stocks have welcomed ETFs with leverage of up to 2x for Samsung Electronics and SK Hynix, allowing for daily price fluctuations of up to 60%. This marks the first time South Korea has allowed trading in leveraged individual stocks, aiming to attract capital outflows back to the country. Sixteen leveraged and inverse products related to Samsung Electronics and SK Hynix will be launched on Wednesday, expected to attract approximately $3.5 billion in inflows.

Top 10 Most Traded Stocks

The chart below lists the ten most actively traded stocks on Tuesday. With their massive trading volumes and excellent liquidity, these assets have become key benchmarks for tracking global market dynamics.