Wall Street jumps as Microsoft surges over 15%, lifting chip stocks
AI Market Summary
US equities rebounded sharply as Microsoft surged over 15% on an upbeat cloud/AI outlook and lower-than-feared capex, helping re-rate AI-linked megacaps and semiconductors. Softer June inflation and reduced expectations for a September Fed hike improved risk appetite, lifting the Nasdaq and S&P 500 led by technology. The move contrasts with recent cash-flow concerns across AI spenders, keeping dispersion elevated within megacaps.
Impact level
● High
Affected assets
NCSKMSFT2USD/USDT+3.43%
AI Insight · NCSKMSFT2USD/USDTAI Insight
▲ Bullish
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Microsoft surged more than 15% in a single session, adding US$450 billion (S$576 billion) in market value in the biggest one-day increase ever for a Wall Street-listed company. Apple, valued at about US$4.9 trillion, recently overtook Nvidia to become the world’s most valuable company. After the Federal Reserve held rates steady on July 29 and June inflation data cooled, traders cut the implied chance of a September rate hike to 59% from 82%, according to CME FedWatch.
