QtrendsS&P 500 closes at another record high driven by Micron's surge past the $1 trillion market cap milestone, as tech stocks lead a broad rally. Bond yields spike amid a violent selloff, creating a fresh test for equities at elevated levels. Ferrari unveils its first electric car, the Luce, priced at $640,000, drawing market skepticism over luxury EV demand. BP ousts its chairman over serious conduct concerns including alleged bullying behavior, sending shares lower.
The S&P 500 closed at another all-time high, extending its record-setting run as technology stocks powered gains. Micron shares led the rally after the chipmaker joined Wall Street's exclusive $1 trillion club. MarketWatch reports that a potential 'melt-up' scenario could carry the index to 8,000 or beyond. Futures suggest the momentum may continue in the next session.
Micron became the latest US company to surpass the $1 trillion market capitalization, sending its stock to a major milestone. UBS slapped an aggressive price target on the chipmaker, fueling further upside. The broader tech sector rallied on the sentiment, helping push major indices to fresh records. Meanwhile, a new quantum computing stock is reportedly eyeing a near-$13 billion valuation at debut.
A violent selloff in the bond market has driven yields sharply higher, posing a fresh challenge for stocks trading near record levels. MarketWatch offered guidance on how to navigate the volatile bond environment. Japanese insurers including Nippon Life posted record profits benefiting from the rising yield environment. The tension between surging bond yields and elevated equity valuations remains a key theme for investors.
Ferrari unveiled the Luce, its first fully electric vehicle, carrying a staggering $640,000 price tag. While the move marks a historic pivot for the iconic sports car manufacturer, market reaction was skeptical with analysts questioning demand for a high-end EV from traditionalist buyers. BBC and NYT coverage highlighted the tension between Ferrari's purist heritage and the electric transition. Nikkei Asia described the Luce as facing a tough test in the luxury EV segment.
BP has removed its chairman following serious concerns about his conduct, with reports describing 'bullying' and 'overbearing' behavior. The ouster sent BP shares sliding as investors reacted to leadership turmoil at the oil giant. Both CNN and NYT reported the abrupt dismissal, while BBC detailed allegations behind the board's decision. The company now faces the challenge of finding a replacement amid strategic pressure from the energy transition.