US Stocks Rise, Nasdaq Gains 1.4%; Tech, Software Stocks Lead; SpaceX Up 6%, Tesla Up 5%

TradingKey - U.S. Treasury yields moved lower again as Federal Reserve Governor Waller indicated he is inclined to keep interest rates unchanged at the central bank's next policy meeting in two weeks, boosting market trading sentiment. U.S. stocks strengthened, with technology and software shares leading the gains.

At the close, the Dow Jones Industrial Average rose 1.18% to 53,686.11; the Nasdaq Composite Index gained 1.40% to 26,584.06; and the S&P 500 Index climbed 1.06% to 7,747.71.

Tech Stock Performance

Tesla (TSLA) rose 5.42% to $376.36.

Tesla officially unveiled Cybercab, a vehicle built specifically for robotaxis, in Austin, Texas. As Tesla's first model natively designed for driverless ride-hailing scenarios, Cybercab features a two-seat layout and gull-wing doors, omitting traditional steering wheels and pedals, with vehicle operation primarily relying on Tesla's FSD autonomous driving system.

SpaceX (SPCX) rose 6.42% to $149.74.

SpaceX has submitted an application to the U.S. Federal Communications Commission (FCC) for approval to equip and operate Starlink terminals during Starship's 14th flight test. According to the filing, this mission is planned to perform a true orbital flight, a task the Starship program has never attempted before.

Among mega-cap tech stocks, SpaceX (SPCX) rose 6.42%, Tesla (TSLA) rose 5.42%, Meta Platforms (META) rose 3.01%, Microsoft (MSFT) rose 2.68%, Nvidia (NVDA) rose 1.78%, Google (GOOGL) rose 1.59%, Amazon (AMZN) rose 1.ZN) rose 1.54%, Apple (AAPL) rose 1.00%; on the downside, Broadcom (AVGO) fell 2.74%.

[Source: FutuBull]

The Philadelphia Semiconductor Index rose 0.11% to 11,352.13 points. Among its 30 constituents, 15 advanced and 15 declined. Among them, Broadcom (AVGO) fell 2.74%, ASML (ASML) fell 2.15%, Coherent (COHR) fell 1.58%, Credo Technology (CRDO) fell 0.64%, and Applied Materials (AMAT) fell 0.58%.

Company News

AI Platforms Including ChatGPT, Claude, and Grok Experience Outage

Network monitoring website Downdetector showed that OpenAI, Anthropic's Claude, Elon Musk's xAI Grok, and AI coding tool Cursor all received a large number of user outage reports. Service issues for Grok and Claude first appeared around 9:00 a.m. Eastern Time, while OpenAI-related outages were reported in concentration around 10:30 a.m. OpenAI stated it is investigating elevated error rates for its ChatGPT chatbot and Codex AI coding tool. According to Downdetector data, user reports regarding OpenAI service disruptions have exceeded 12,000.

Nvidia Acquires Hugging Face for $12.9 Billion, Betting on Open-Model Ecosystem

Nvidia announced the acquisition of open-source AI platform Hugging Face for $12.93 billion, marking its largest single acquisition to date. Nvidia stated that the combination will expand Hugging Face's platform scale, strengthen its infrastructure, and provide a broader range of artificial intelligence services to developers and institutions globally.

Tesla Officially Unveils Cybercab

Tesla today officially launched Cybercab, a vehicle purpose-built for robotaxis. Morgan Stanley analyst Andrew Percoco believes that this Cybercab launch is of greater significance than Tesla's typical product events. In his $400 price target for Tesla, the robotaxi business contributes about $120, accounting for roughly 30% of the total valuation. Bank of America was previously even more optimistic, valuing Tesla's Robotaxi business at approximately $844 billion, representing about half of the company's valuation.

OpenAI Releases GPT-6 Astra Model, Saying It May Be Nearing AGI

OpenAI released its new flagship model, GPT-6 Astra, stating that it has achieved major breakthroughs in commercial tasks such as financial modeling and engineering design. The model is initially available only to select institutions, including organizations participating in OpenAI's Daybreak Access cybersecurity initiative, and will subsequently open to ChatGPT Plus, Pro, Business, and Enterprise users, as well as users accessing it via API and Amazon Web Services.

Industry & Macro News

Fed Governor Waller: Would Support Keeping Rates Unchanged If August Inflation Continues to Improve

Federal Reserve Governor Christopher Waller stated that while U.S. inflation remains noticeably above the Federal Open Market Committee's (FOMC) 2% target, recent data has shown signs of cooling. If data released over the next two weeks continues to improve, he would lean toward supporting keeping the federal funds rate unchanged; however, if August inflation rebounds, he might support a rate hike at the September 15–16 FOMC meeting.

Oman Reportedly Rejects Iran's Proposal for Strait of Hormuz Tolls

According to a report by the New York Post, Oman has quietly rejected Iran's proposal to charge service fees on commercial vessels in the Strait of Hormuz. Regional officials familiar with the matter stated that Oman refused to agree to collect environmental and security service fees, even on a voluntary basis, and that previous claims by the Islamic Revolutionary Guard Corps (IRGC) that an agreement had been reached were false. A U.S. official said that the terms of Iran's proposed revenue-sharing agreement had not even been finalized by Tehran. Previously, following talks in Tehran between Iranian Foreign Minister Araghchi and Omani Foreign Minister Busaidi, IRGC spokesman Hossein stated that the two countries had reached an agreement on the delimitation of waters and revenue distribution in the Strait of Hormuz.