Finance

Mega-cap technology companies experienced a strong trading session, driven by cooling yields and artificial intelligence infrastructure demand. Apple led the surge by climbing 4% to achieve a fresh historic high. Conversely, semiconductor manufacturers faced notable selling pressure, with Micron Technology dropping 8% and the broader chip sector lagging despite a solid quarterly outlook from equipment provider ASML.

Wall Street firms and asset managers reported robust second-quarter financial performances, contributing to the broader market uplift. BlackRock helped guide financial shares higher, surging 6.6% after reporting quarterly profit and revenue figures that comfortably beat consensus analyst expectations. The company also announced that its total assets under management reached an unprecedented milestone, crossing the $15 trillion mark.

Shares of PayPal Holdings experienced an explosive trading day, soaring approximately 17% on record volume. The dramatic movement followed media reports indicating that Stripe and Advent International have joined forces to pitch a $53 billion takeover bid for the digital payment giant. Analysts and market participants are actively debating whether the proposed $60.50 per share premium will be sufficient to finalize a deal.