Global equities climb as U.S. chip stocks jump 10%+

Huoxing Finance News — Key market and policy updates: 1) Fed's Musalem said interest rates may need to move higher to contain inflation driven by both demand and supply, adding that hikes should ideally be "early and gradual." 2) Donald Trump said the U.S. will stay cautious on artificial intelligence and impose restrictions when necessary, while maintaining an overall stance of "encouraging" AI development. 3) EU member states agreed to extend sanctions on Russia, prolonging the measures for another three years. 4) Bank of Canada Governor said updated inflation forecasts will shape the October policy decision, as officials assess whether further rate increases are needed to return CPI to 2%. 5) U.S. equities opened higher and extended gains into the close: Nasdaq +2.26%, S&P 500 +1.49%, Dow +0.71%. The Philadelphia Semiconductor Index surged 4.29%, its best one-day advance since Aug. 4. Several chip names including ARM and Intel jumped more than 10%. AMD rose about 10% to a fresh high; its market cap topped $1 trillion for the first time, making it the world's 16th-largest publicly traded company and the fourth U.S. chipmaker in the "trillion-dollar club." Major European benchmarks also ended higher, with Germany's DAX 30 up 1.07%. 6) Crude oil futures settled sharply lower: October WTI -4.51%, November Brent -3.4%. 7) Metals fell: COMEX gold -0.99% to $4,381/oz; COMEX silver -0.92% to $66.53/oz. 8) SpaceX AI officially launched the Grok 4.7 model, pricing input tokens at $2 per million and output tokens at $6 per million. 9) OpenAI is reportedly developing new features to compete with xAI's Grok and weighing how to respond to Meta's newly launched Muse. 10) Paramount Sky reached settlements with 12 U.S. states over its acquisition of Warner Bros. 11) NVIDIA plans to add $1.5 billion to its investment in SB Energy, lifting total committed funding to $3 billion. 12) Meta said the Petal subsea cable linking France and the U.S. is expected to come online by 2029, with capacity doubling to the petabit level. 13) Amazon said it will deploy 5,000 smart-glasses devices this year and aims to exceed 20,000 units by end-2027. 14) Qualcomm announced a partnership with Google to bring the Snapdragon X Elite platform to the first Google Book laptops. 15) Optical communications player Coherent said it is expanding its pluggable optical line system portfolio, introducing a compact QSFP-packaged system featuring full C-band high-power variable-gain amplification. 16) Novo Nordisk's CEO said that by 2030 the company's production capacity will meet demand for 5 million patients using oral Wegovy. 17) U.S. telecom giant T-Mobile said customers can now use standalone 5G roaming internationally. 18) Trump said he will hold a meeting on Iran today. 19) Israeli forces said they came under attack near the "Yellow Line" and carried out retaliatory strikes against Hamas targets. 20) UK Prime Minister Burnham said the UK agreed to Saudi Arabia's request for limited-duration defensive aerial refueling to help stabilize the region. 21) Reports said the Trump administration proposed allocating $5 billion to launch an investment fund aimed at rebuilding energy infrastructure in the Gulf of Mexico. 22) Russia will extend its diesel export ban beyond the end of September. (Caixin Global)