Post-Bell｜Semiconductor Surge Lifts Nasdaq as Dow, S&P 500 Extend Gains

Stock Market

The U.S. major indexes closed as follows: Dow Jones up 0.26% at 52,319.20; S&P 500 up 0.79% at 7,499.36; NASDAQ up 1.52% at 26,213.72. Tech momentum dominated the first trading day of the new quarter, helping all three benchmarks add to June’s solid finish. Gains in heavyweight chip and electric-vehicle names outweighed pockets of weakness elsewhere, leaving the growth-heavy NASDAQ well ahead of the broader market.

Chip-centric names spearheaded the session’s “unusual-move” list. Leveraged fund SOXL surged 12.76% at $266.71 after another powerful run in semiconductor shares, while fellow 3× inverse play SOXS fell 12.90% at $3.24. Among the chipmakers, AMD jumped 7.68% at $580.91, MRVL climbed 7.25% at $297.89, INTC gained 6.01% at $139.63, and NVDA added 2.63% at $200.09.

Memory specialist SNDK rallied 10.89% at $2,273.73 on optimism over long-term supply contracts.

In autos, TSLA rose 2.13% at $420.60, extending its rebound.

Nike Q4 Adj. EPS $0.20 Beats $0.13 Estimate, Sales $10.972B Beat $10.863B Estimate.

On the downside, stable-coin operator CRCL declined 17.55% at $62.63 amid broader weakness in crypto-linked equities.

Broader participation in technology remains the market’s tailwind. Investors rotated toward hardware and memory suppliers after recent analyst upgrades and robust capital-expenditure outlooks tied to artificial-intelligence infrastructure. The outsized moves in leveraged semiconductor funds such as SOXL underscore heightened risk appetite, yet the concurrent drop in bearish counterpart SOXS hints at short covering rather than fresh selling. Away from tech, advances in megacap consumer and communication names improved market breadth, supporting the S&P 500’s push to fresh multi-month highs.

Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.42%.

USD/CNH rose 0.00%, at 6.81; USD/HKD fell 0.01%, at 7.84.

U.S. Dollar Index rose 0.02%, at 101.18.

WTI crude futures rose 0.66%, at 69.96 USD/bbl; COMEX gold futures fell 0.33%, at 4,025.00 USD/oz.

Top News

1. CME Group will launch single-stock futures on more than 50 major U.S. companies on July 27. The exchange says standard and micro contracts will cover names such as Alphabet, Amazon, Apple and Nvidia. The move aims to give traders precision hedging tools and fresh capital-efficiency benefits.

2. SK Hynix has filed with the U.S. SEC to list American Depositary Shares on Nasdaq under the ticker “SKHY.” Global coordinators include BofA, Citigroup, Goldman Sachs and J.P. Morgan. The South Korean memory giant seeks broader investor access and funding for expansion.

3. Applied Materials unveiled a new suite of 3D chip-packaging tools geared toward high-bandwidth memory and chiplet architectures. The launch strengthens its position in advanced semiconductor equipment. Analysts say the products could accelerate revenue growth amid soaring AI hardware demand.

4. South Korea announced an 800 trillion-won plan to build four semiconductor and AI manufacturing complexes. Led by Samsung Electronics, the initiative is designed to cement the nation’s role in the global chip supply chain. U.S. equipment suppliers are expected to benefit from the massive capital-expenditure cycle.

5. AeroVironment posted stronger-than-expected quarterly results and a record $1.2 billion funded backlog. Adjusted EPS reached $1.84 on revenue of $641.6 million, beating consensus estimates. Shares rallied sharply as demand for unmanned systems remained robust.

6. GameStop reiterated its intent to pursue a $56 billion cash-and-stock acquisition of eBay. Management said the deal would scale its e-commerce platform and enhance competitiveness. The company also projected fiscal-year adjusted EBITDA above $600 million.

7. MicroStrategy authorized potential securities sales of up to $1.25 billion to bolster its balance sheet. The move provides flexibility for debt repayment and additional Bitcoin purchases. Investors view the authorization as a strategic step to navigate market volatility.

8. Bernstein doubled its price target on SanDisk to $3,000, citing “dynamic” long-term contracts that protect earnings during downturns. The broker said SanDisk’s contract structure offers a higher revenue floor than rivals. Shares gained on expectations of stronger EPS resilience through the AI memory cycle.

9. Oppenheimer downgraded Goldman Sachs and Morgan Stanley to underperform, flagging near-term revenue headwinds. The broker also cut ratings on Bank of America and Citigroup to perform. Financial stocks slipped as investors digested the cautious outlook.

10. Barclays upgraded Watts Water Technologies to Overweight, highlighting benefits from data-center demand. Analysts anticipate about 10% EBITDA per-share growth supported by retrofit projects and recurring filter revenue. The bank sees further upside from potential share buybacks and M&A opportunities.
Sources: Reuters, Dow Jones, Tiger Newspress, Benzinga, public market data Disclaimer: This content is for reference only and does not constitute investment advice. Investors should make decisions based on their own judgment and risk tolerance.