CNBC Daily Open: Rallies of individual stock couldn’t push up major indexes

Individual equities and separate sectors popped Wednesday, but collectively, their moves weren’t forceful enough to lift indexes.

Beleaguered American chipmaker Intel is finding itself in slightly less prickly situations lately. Its shares jumped 6.4% Wednesday on reports that it is seeking an investment from Apple — which would form a ménage à trois with Nvidia and the U.S. government.

Still, the Nasdaq Composite lost 0.34% as major artificial intelligence names such as Nvidia and Oracle retreated. Traders presumably took profit, or fled because of worries that OpenAI’s $850 billion buildout is overly ambitious or looking like a bubble.

Across the Atlantic, European defense stocks jumped after U.S. President Donald Trump said Wednesday that “Ukraine, with the support of the European Union, is in a position to fight and WIN all of Ukraine back in its original form.”

That’s a sharp reversal from his earlier suggestions that Ukraine and Russia “need to discuss the possible exchanges of territory” (which sounds like a euphemism for “Ukraine might have to cede land to Russia.”)

However, while the Stoxx Europe Aerospace and Defense Index climbed 1.47%, the broader Stoxx Europe 600 fell 0.19%.

On days like these, it looks like being a trader of individual stocks has its advantages over investing in exchange-traded funds.

Lithium Americas stock doubles. The move comes after news that the Trump administration is considering a stake in the Canada-based mining company, which is renegotiating its loan from the U.S. Department of Energy.

Global defense stocks receive a boost. Trump, in a drastic change in tone, said Wednesday that Ukraine could recapture all its territory lost to Russia. That pushed up stocks such as German tank parts maker Renk and Swedish defense giant Saab.

Xiaomi launches new phones globally. At a launch event in Munich on Wednesday, the firm announced the Xiaomi 15T and 15T Pro, priced at 649 euros ($766) and 799 euros, respectively. For comparison, Samsung’s S25 starts at 799 euros in Germany.

U.S. stocks see back-to-back losses. On Wednesday, major U.S. indexes fell as tech shares continued pulling back. Europe’s regional Stoxx 600 lost 0.19% even as regional defense stocks rallied.

[PRO] Europe is losing its lead over the U.S. Earlier this year, when U.S. President Donald Trump announced tariffs, European markets outperformed U.S. equities. But the tide is turning — here’s how fund managers are reacting to this development.