U.S. cybersecurity giant CrowdStrike said China-based entities made over half of state-sponsored cyberattacks on tech firms for artificial intelligence assets.
JPMorgan Chase's move suggests long-running AI agents are close to clearing the security and governance hurdles that have slowed adoption inside big companies.
U.S. stock futures rose on Tuesday as chip stocks rebounded for a second day from last Friday’s rout and oil prices pulled back on hopes a U.S.-Iran deal is nearing. S&P 500 futures were up about 0.5%, while the Nasdaq 100 futures rose 0.9%. Dow Jones Industrial Average futures advanced 206 points or 0.4%. Micron Technology was higher by almost 5% in early trading, adding to a 10% comeback on Monday. The shares tumbled about 20% in the two days ending last week, including a 13% rout on Friday. Qualcomm was up nearly 3% in early trading, a second day of gains after falling 11% on Friday. The iShares Semiconductor ETF was up 2% following a 6% rebound on Monday. The ETF tumbled 10% on Friday for its worst day in six years as investors feared the AI-driven run in chips had risen too far, too fast. Chip stocks led the S&P 500 higher in regular trading Monday, with the index rising 0.3%. The tech-dominant Nasdaq Composite climbed 0.86%. Both averages clawed back some of their losses from last week’s tech rout. The blue-chip Dow, on the other hand, bucked the trend to shed 80.77 points, or 0.16%. Although artificial intelligence and chip trade have been the primary market driver on Monday and in other recent sessions, Brian Kersmanc, portfolio manager at GQG Partners, offered some skepticism over the trend’s longevity. “What the issue is on a longer-term basis is sustainability,” Kersmanc said on CNBC’s “Closing Bell: Overtime” on Monday afternoon. “So, how much further does this sustain on a longer-term basis?” “At the end of the day, a lot of these chip names are commodities,” the portfolio manager added. “And if you look at it in terms of a commodity, when you have a rapid price increase that you had—in some areas of memory, you had a 15x price increase over the course of last year or so—if I were to recontextualize that … a 15x increase in energy, going from $60 a barrel to $900 a barrel, how many energy stocks would people be buying right now?” OpenAI confidentially filed for an IPO late Monday, adding to enthusiasm around the AI trade. Space and AI play. SpaceX is set to make its debut on Friday in what will be the largest IPO ever. The offering is seen by some as adding fuel to the AI-driven bull market, but some investors are wary that it could also mark a top in the trend with its $1.75 trillion valuation. Treasury yields were largely unchanged on Tuesday as bond markets took a breather ahead of more economic data releases later this week. The 10-year U.S. Treasury note yield—the key benchmark for mortgages, auto loans, and credit card debt—was last seen down less than 1 basis point at 4.542%. The 2-year Treasury note yield, which is typically more sensitive to short-term Federal Reserve interest rate decisions, was less than 2 basis points lower at 4.141%. Meanwhile, the longer-dated 30-year Treasury bond yield, which tends to react mainly to geopolitical risks, rose less than 1 basis point to 5.02%. In Asia, Japan’s Nikkei 225 was over 2% higher, ending the trading day at 65,416.63, while South Korea’s Kospi rebounded from Monday’s slump, jumping 8.18% to 8,096.93. Hong Kong’s Hang Seng Index edged 0.15% higher, while the mainland’s CSI 300 was up 1.87% to 4,801.81. Australia’s benchmark S&P/ASX 200 was down 0.24% to 8,604.2. Oil prices fell Tuesday as President Donald Trump sought to convince the market that a deal with Tehran was days away, despite the barrage of strikes between Israel and Iran this week. U.S. crude oil futures were down about 2% to $89.40 by 8:05 a.m. ET. Brent futures, the international benchmark, lost 1.7% to $92.65 per barrel. Gold edged higher on Tuesday, supported by lower oil prices, as tensions eased in the Middle East but concerns about U.S. interest rate hikes ahead of key inflation data this week capped gains. Spot gold was up 0.3% at $4,340.31 per ounce. The metal fell to its lowest level since March 23 in the previous session. U.S. gold futures for August delivery were unchanged at $4,364.90.
BYD expects China's competitive electric vehicle market to continue growing, even as manufacturers and analysts anticipate domestic demand to taper further.
