Market
September 4, U.S. stocks opened on a cautious note as rising Treasury yields and mixed economic signals pushed the major benchmarks slightly lower. The Dow Jones slipped 0.2% to 53,567, the S&P 500 lost 0.1% to 7,737, and the Nasdaq Composite was almost flat, easing 0.01% to 26,582, with traders awaiting more data on growth and inflation.
Lululemon Athletica fell 18.1% after slashing its full-year revenue guidance, while Tesla Motors dropped 3.5% on fresh Model Y price cuts that rekindled margin concerns. Broadcom slipped 0.7% as regulators deepened scrutiny of its VMware takeover. On the upside, Oracle jumped 3.1% on a large Pentagon cloud award, NetEase climbed 2.9% following game-approval news, Baidu rose 2.7% on AI product launches, SanDisk Corp. gained 2.5% on upbeat flash-memory outlook, Micron Technology added 1.6% on firmer DRAM pricing, and NVIDIA inched 0.7% higher as AI chip shipments accelerated.
Losers dominated broader trade: Golden Heaven Group Ltd. slid 7.8%, Direxion Daily TSLA Bull 2X Shares fell 6.9%, Universe Pharmaceuticals Inc. declined 6.0%, Viomi Technology Co. retreated 5.5%, and MicroSectors Gold Miners 3x Leveraged ETN dropped 5.1% as investors pared exposure to speculative and commodity-linked plays.
News
Lululemon Athletica cuts guidance, stock tumbles 18%. The apparel maker lowered its fiscal-year sales outlook due to softer demand and heightened promotions, erasing nearly $7 billion in market value.
Tesla Motors trims Model Y prices, shares slide 3.5%. The latest discount intensifies margin pressure and signals demand headwinds heading into the holiday quarter.
Oracle secures multibillion-dollar Pentagon cloud award, jumps 3.1%. Winning a share of the JWCC contract strengthens the firm’s public-sector pipeline and boosts confidence in double-digit cloud growth.
Broadcom faces deeper EU antitrust review of VMware deal, slips 0.7%. Regulators flagged competition concerns in server components, extending approval timelines and increasing deal-completion risk.
NVIDIA starts shipping Blackwell GPUs, edges up 0.7%. Early deliveries to hyperscalers keep the chipmaker ahead in the AI accelerator race and support forecasts for record data-center revenue.
Micron Technology sees DRAM contract prices rising 15%, gains 1.6%. Industry checks point to tightening supply that could bolster margins ahead of the peak electronics season.
Baidu unveils Ernie 5.0 and seals auto AI deals, ADRs gain 2.7%. The upgraded model targets enterprise clients while in-car voice partnerships expand the company’s monetization channels.
NetEase gets rapid approval for new fantasy RPG, rises 2.9%. The early clearance positions the title for Golden Week launch and adds to the publisher’s pipeline momentum.
U.S. initial jobless claims rise to 245,000, bonds steady. The uptick signals a cooling labor market and reinforces expectations that the Federal Reserve could pause further tightening.
MicroSectors Gold Miners 3x Leveraged ETN sinks 5.1% as bullion retreats. A stronger dollar and hawkish Fed commentary pressured gold prices, amplifying losses in leveraged miner products.