US stocks: semiconductor and memory chip stocks rally across the board



On July 14, the three major US stock indexes opened mixed. As of the time of writing, the Dow Jones Industrial Average fell 0.33%, the Nasdaq rose 0.46%, and the S&P 500 rose 0.14%.

The Philadelphia Semiconductor Index quickly surged in early trading, rising more than 3%. Semiconductor and memory chip stocks jumped across the board: SK hynix rose more than 11%, SanDisk rose more than 7%, AMD and Western Digital rose more than 5%, Micron Technology and Marvell Technology rose more than 4%, and ON Semiconductor and Seagate Technology rose more than 4%. Intel and Texas Instruments rose more than 3%.

Leading Chinese concept stocks saw mixed moves. NIO and XPeng Motors rose more than 4%, Kingsoft Cloud fell more than 5%, while Baidu Group and Alibaba fell.

The “Seven Tech Giants” moved in different directions: Tesla rose more than 1% and Nvidia rose 0.55%; Microsoft fell more than 2%, while Apple and Amazon also declined.

The optical communications sector strengthened in early trading. Lumentum rose more than 8%, Credo and Marvell Technology rose more than 4%, and Corning rose nearly 4%.

IBM shares plunged 25%, marking the largest intraday drop since 1987.
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June Inflation US - Annual
3.9%
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FragilePosition
· 1h ago
The Philadelphia Semiconductor Index jumps straight up—Hynix’s 11% gain makes me jealous. Has the storage cycle reversal been confirmed for real?
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