U.S. chip stocks rebounded strongly, and a series of major events will appear one after another

U.S. chip stocks rebounded strongly, and a series of major events will appear one after another.

On the evening of July 6th, Beijing time, the three major U.S. stock indexes collectively opened higher, and the Dow Jones subsequently plunged and weakened. The Philadelphia Semiconductor Index rose by more than 4%, and Advanced Micro Devices (AMD) rose by more than 9%.

In the commodity market, international oil prices rose slightly, while international gold prices fluctuated downward. This week, major events such as the minutes of the Federal Reserve meeting, SpaceX’s entry into the index, and the opening of the earnings season will appear one after another, and market volatility may further intensify. The three major U.S.

stock indexes collectively opened higher Wind data showed that as of 22:40 Beijing time, the Dow Jones Industrial Index fell 0.2%, the S&P 500 Index rose 1.15%, and the Nasdaq Composite Index rose 0.58%.

In terms of sectors, as of press time, the Philadelphia Semiconductor Index has soared by more than 4%, AMD Semiconductor has increased by more than 9%, Teradyne, ON Semiconductor, and Dr. Blue Semiconductor have increased by more than 7%, and Qualcomm and Marvell Technology have increased by more than 5%.

On the news, Goldman Sachs raised AMD's target price from $450 to $640. Goldman Sachs's increase in AMD's target price is the latest move by Wall Street to intensively adjust the valuation logic of the AI semiconductor industry chain.

In the past month, from Bank of America raising its forecast for the size of the server CPU market, to Goldman Sachs, Morgan Stanley, Nomura and other institutions successively raising their target prices for Kioxia, SIMO, TSMC, etc., it shows that capital demand for AI is being transmitted from GPU accelerators to a wider range of infrastructure bottlenecks such as server CPUs, storage, advanced packaging and equipment materials.

This is not an isolated incident, but a clear signal that AI capital expenditures are spreading deeper into the supply chain. Bank of America previously released a report showing that the recent decline in the semiconductor sector is only a temporary adjustment rather than a fundamental change in AI demand.

The bank believes that the Philadelphia Semiconductor Index's 11% correction in the third quarter after soaring 88% in the second quarter coincides with the pattern of seasonal weakness in the sector's history and is a "healthy reset" rather than a trend reversal. Samsung Electronics will announce results on Tuesday.

The chipmaker's stock price has risen 165% this year, and its financial performance will be closely watched. In a few days, SK Hynix will also advance its US$28 billion U.S. listing. Large technology stocks had mixed gains and losses. As of press time, the Wind US Technology Big Seven Index rose 0.55%.

Tesla rose more than 2%, Apple and Nvidia rose nearly 1%, Meta, Google, and Amazon rose slightly, and Microsoft fell more than 1%. In terms of Chinese concept stocks, as of press time, the Nasdaq China Golden Dragon Index rose 0.75%.

Canadian Solar and Max Intelligent Engine rose by more than 5%, Waterdrop and SoYoung rose by more than 4%, and NIO, Bilibili and Huya rose by more than 3%. Wind data shows that as of 22:51 on July 6, Beijing time, WTI crude oil futures prices rose 0.15% to US$68.88/barrel; Brent crude oil futures prices rose 0.35% to US$72.37/barrel.

In terms of precious metals, Wind data showed that as of 22:51 on July 6, Beijing time, the spot price of London gold fell by 0.92% to US$4,135.62 per ounce; COMEX gold futures fell by 0.85% to US$4,151.9 per ounce. Shenyin & Wanguo Futures believes that precious metals will fluctuate downward.

Negotiations between the United States and Iran have resumed again, coupled with rising market interest rate expectations, U.S. bond interest rates and the U.S. dollar index have risen, putting pressure on precious metals. However, as oil prices have fallen sharply, inflation risks have declined, and the U.S.

job market recovery is still unstable, there is little need to raise interest rates during the year, and the suppression of the high interest rate environment is expected to gradually ease.

From a mid- to long-term perspective, the price center of precious metals has the basis for a sustained upward trend: global geopolitical risk centers are rising, the restructuring of the political and economic order continues, at the same time, the fiscal pressure on the United States intensifies, the de-dollarization process will continue to advance, and the trend of global central banks increasing their gold reserves continues.

Silver, platinum, and palladium have both financial and industrial attributes. They follow the precious metals sector as a whole, and their upward flexibility depends on the cooperation of industrial demand.

Preview this week: Federal Reserve minutes, SpaceX’s entry into the index, and earnings season debut The biggest event this week is undoubtedly the release of the minutes of the Federal Reserve’s June FOMC meeting.

This is the first meeting minutes of new chairman Kevin Warsh after taking office, and the market is paying close attention to the details of his policy ideas. In the June dot plot, half of the voting members expected at least one rate hike in 2026, and money markets have fully priced in a 25 basis point rate hike in December. However, recent U.S.

economic data have been mixed: only 57,000 new non-farm jobs were added in June, significantly lower than expected, but the unemployment rate fell slightly; price pressures have cooled, and the fall in energy prices has also eased inflation concerns. SpaceX will be officially included in the Nasdaq 100 Index before the U.S. stock market opens on July 7.

It will take only 15 trading days from the IPO on June 12 to inclusion in the core index, setting a record for the fastest time since the inception of the Nasdaq 100.

This rapid inclusion is due to the new regulations implemented by Nasdaq in May this year: super large new stocks that rank among the top 40 in the index by market value can apply for inclusion after being listed for 15 trading days. The market generally believes that this rule adjustment is largely tailored for SpaceX.

It is worth noting that due to the weight cap rule adopted by the Nasdaq 100, the initial weight of the SpaceX index will be limited to less than 1%, but its driving effect on index sentiment and passive capital flows cannot be underestimated.

In addition to the above-mentioned events, another major highlight this week is that SK Hynix will officially be listed on Nasdaq on July 10 (Friday) and issue American Depositary Receipts (ADRs).

This IPO, which will raise approximately US$28 billion, is expected to become the largest foreign company IPO in the history of the US stock market, second only to the US$85.7 billion record set by SpaceX last month. This week, the second-quarter earnings season for U.S. stocks officially kicks off.

Delta Air Lines will announce its financial results before the market closes on July 10, and PepsiCo will be the first to disclose it before the market closes on July 9. The two companies correspond to travel consumption and must-have consumption respectively, and are a key window for observing the consumption boom of American residents. The rise of the U.S.

stock market this year is largely dependent on performance exceeding expectations. The upcoming earnings season may become an important catalyst for further rises in U.S. stocks. (

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