Semiconductor strength offset weak jobs

U.S. benchmarks finished higher: the S&P 500 (SPX) rose 0.77%, the Nasdaq Composite (^IXIC) gained 0.88% and the Dow Jones Industrial Average (DJIA) added 0.75% as strength in technology and semiconductor-equipment names offset mixed macro signals. European markets advanced, led by Germany's DAX (DAX) which rose 1.32%, while France's CAC (FRA40) gained 0.93% and the U.K.'s FTSE (UKX) climbed 0.46%, supported by positive corporate headlines and active deal flow. Asia's snapshot in the dataset showed 000001.SS flat at 0.0%.

Top gainers: POET (+43.32%), ONDS (+26.41%), FRMI (+22.75%). Top losers: DOCS (-23.00%), NIQ (-18.33%), LWLG (-18.03%). Sector flows: VGT (technology) led with +1.53% while XLB (materials) and VNQ (real estate) lagged at -0.75% and -0.59%; XLE (energy) rose 0.76%.

U.S. initial jobless claims rose to 211,000 for the week ending May 9, a weaker-than-expected print that signaled modest labor-market softening and led the dollar (DXY) to pare gains while equities dipped on the release. Retail sales rose 0.5% in April, boosted by higher gasoline receipts, which lifted nominal spending but highlighted discretionary weakness that could sustain inflationary pressure and temper growth expectations. Cleveland Fed President Beth Hammack emphasized central bank independence and a data-dependent approach, reinforcing a cautious policy backdrop.

Applied Materials (AMAT) reported fiscal Q2 revenue of $7.91 billion and raised its fiscal Q3 outlook, which supported sentiment in semiconductor-equipment and AI-capex names. Intuitive Machines (LUNR) posted record Q1 revenue of $186.7 million, reported positive adjusted EBITDA and an approximately $1.1 billion backlog, increasing near-term revenue visibility for the company. Blackstone's digital infrastructure trust debuted on the NYSE at a $20 IPO price under ticker BXDC, creating a public benchmark for digital-infrastructure REITs that may influence sector flows. Completed transactions included Stratos' acquisition of 11 partner practices totaling approximately $4.8 billion in client assets, Sumitomo Forestry's completion of its acquisition of Tri Pointe Homes, and Biogen's completion of its acquisition of Apellis Pharmaceuticals. Announced deals included NoblQ's acquisition of a majority stake in QBrainX and Iridium's planned purchase of the remaining Aireon interest among other announced strategic transactions.