Finance

Semiconductor stocks saw strong upward momentum, led by Nvidia, which gained more than 2% to snap a seven-day losing streak. The recovery comes as Wall Street eagerly anticipates the company's impending quarterly financial results, which serve as a critical gauge for artificial intelligence infrastructure demand. Other prominent semiconductor firms, such as AMD and Micron Technology, also posted solid gains ahead of the event.

Bitcoin momentarily surged past $80,000 for the first time in over three months before pulling back slightly to trade around the $79,000 range. The dramatic upward move was sparked by the U.S. Treasury's unexpected announcement to expand its long-term bond buyback program, reviving investor fears regarding dollar debasement and fueling demand for scarce alternative assets. This rally also triggered massive liquidations of leveraged short positions, further amplifying the positive momentum.

Shares of Dick's Sporting Goods plummeted approximately 30% after the retail giant missed second-quarter financial expectations. The company also downwardly revised its full-year earnings outlook, citing softer demand and challenging market conditions within the athletic footwear and apparel sector. The steep decline underscored growing concerns regarding consumer confidence and discretionary spending resilience amid ongoing cost-of-living pressures.