U.S. memory chip stocks counterattacked. SK Hynix rose 12%, San Disk rose 6%, and IBM plummeted 25%, the largest single-day decline in the past 40 years
On the evening of July 14th, Beijing time, the three major U.S. stock indexes rose across the board. As of 21:50, the Dow Jones Index rose 0.03%, the S&P 500 Index rose 0.25%, and the Nasdaq Composite Index rose 0.54%. Technology giants had mixed gains and losses, with Amazon, Apple, and Microsoft falling more than 1%, while Tesla, Nvidia, and SpaceX rose slightly. AI hardware stocks rose across the board, with the storage sector leading the gains. The Philadelphia Semiconductor Index opened up more than 4%.
On the evening of July 14th, Beijing time, the three major U.S. stock indexes rose across the board. As of 21:50, the Dow Jones Index rose 0.03%, the S&P 500 Index rose 0.25%, and the Nasdaq Composite Index rose 0.54%. Technology giants had mixed gains and losses, with Amazon, Apple, and Microsoft falling more than 1%, while Tesla, Nvidia, and SpaceX rose slightly. AI hardware stocks rose across the board, with the storage sector leading the gains. The Philadelphia Semiconductor Index opened up more than 4%. In terms of popular stocks, SK Hynix's stock price rose by more than 12%, SanDisk rose by 6%, Micron Technology, AMD, Western Digital, and Seagate Technology rose by more than 4%, and Intel rose by nearly 4%. The optical communications sector strengthened, with Applied Optoelectronics and Lumentum rising by more than 8%, and Corning rising by nearly 4%. IBM's stock price fell by more than 25%, the largest one-day drop since 1987, driving software stocks such as Oracle and Accenture to fall simultaneously. IBM reported preliminary second-quarter sales that were lower than expected, blaming customers for shifting spending toward chips and servers. Most Chinese concept stocks rose. The Nasdaq China Golden Dragon Index rose by about 0.5%, Canadian Solar rose by more than 7%, Xpeng Motors and NIO rose by more than 4%, and Xunlei, WeRide Zhixing, and JinkoSolar rose by nearly 4%. On the downside, Kingsoft Cloud and Baidu fell more than 5%. In terms of commodities and crypto-assets, gold, silver, international oil prices, and cryptocurrencies rose across the board. Gold rose nearly 2% on the day, and was last at $4,080 per ounce. Silver rose more than 2.5% on the day, and was last at $59.1 per ounce. The New York oil futures price was US$80/barrel, an increase of 2.87%, and Brent crude oil was trading at US$86.42/barrel, an increase of 3.75%. Bitcoin was last quoted at US$63,930 per coin, up more than 2% during the day, Ethereum rose nearly 6%, and major currencies such as SOL and Dogecoin followed suit. On the news, the United States announced the Consumer Price Index (CPI) in June: The CPI in the United States in June increased by 3.5% year-on-year, with an expected increase of 3.8%, and the previous value was an increase of 4.2%. The U.S. CPI fell by 0.4% month-on-month in June, and was expected to fall by 0.1%. The previous value was an increase of 0.5%. The decline exceeded expectations, and was the first month-on-month negative growth in six years. The core CPI in the United States increased by 2.6% year-on-year in June, compared with the forecast of 2.8%, and the previous value of 2.9%. The core CPI in the United States in June was unchanged from the previous month, and is expected to increase by 0.2%. After the data was released, traders slashed bets on the Federal Reserve raising interest rates and postponed expectations for a rate hike until October. (