Market
Aug 31, U.S. stocks opened softer as investors digested resilient labor data and rising Treasury yields. The Dow Jones slipped 0.49%, the S&P 500 eased 0.22% and the Nasdaq Composite edged down 0.09%, with cautious sentiment offset by strength in semiconductors.
Antelope Enterprise Holdings Limited soars 97.7% after announcing a strategic pivot to AI ceramics, followed by So Young surging 15.3% on a surprise swing to profit. Golden Heaven Group rises 10.7% on tourism rebound hopes, while Intel climbs 2.4% and Advanced Micro Devices adds 1.4% after upbeat chip demand forecasts. On the downside, MINISO Group Holding Limited tumbles 9.7% on a U.S. supply-chain probe, Future FinTech Group falls 6.9% after a share offering, and Aurora Mobile drops 5.7% on weak guidance.
Broader upside action features Shengfeng Development Limited up 7.6%, Cango Inc. 6.9% higher as auto sales rebound, Connect Biopharma 5.4% firmer on positive trial data, Lixiang Education 5.3% stronger on enrollment growth, and Zepp Health advancing 3.0% with wearable demand improving, underscoring rotation into small-cap growth names.
News
Federal Reserve Chair signals “higher for longer” stance. A measured tone on future rate cuts pushed the 10-year yield back above recent highs, stirring debate over equity valuations.
Intel launches next-generation AI PC chips. Management highlighted double-digit performance gains and new enterprise design wins, sending the stock up and lifting the broader semiconductor complex.
So Young posts unexpected operating profit. The cosmetic-surgery platform’s cost cuts and expanding premium services drove its first positive operating margin, igniting a double-digit share rally.
Tesla reports rebound in U.S. deliveries. Preliminary August figures showed a 15% month-on-month uptick, easing demand fears and boosting the EV maker’s shares.
NVIDIA secures additional cloud-data-center GPU orders. New contracts from major hyperscalers reinforced confidence in sustained AI chip demand, extending the stock’s winning streak.
MINISO Group faces U.S. labor-practice investigation. The retailer warned the probe could disrupt supply chains and raise costs, triggering the day’s steepest ADR sell-off.
Advanced Micro Devices earns price-target hike. A leading brokerage cited stronger AI accelerator momentum, propelling the stock higher despite a soft broader tape.
PDD Holdings slips on rising competitive pressures. Reports of intensified price wars with Alibaba in cross-border e-commerce sparked profit-margin concerns.
Chevron and Exxon Mobil edge higher with crude above $85. Hurricane-related supply risks in the Gulf of Mexico supported energy shares amid wider market weakness.
Weekly jobless claims fall to two-month low. The Labor Department data underscored a still-tight labor market, complicating the Fed’s path to policy easing.