U.S. stocks storage and optical communications rebound strongly
On July 21, local time, U.S. stocks opened higher and moved higher, with the three major indexes collectively closing higher. Among them, the Dow rose nearly 400 points, and the S&P 500 rebounded after falling for three consecutive days. As of the close, the Dow rose 0.74% to 52,224.64 points, the S&P 500 rose 0.89% to 7,509.2 points, and the Nasdaq rose 1.29% to 25,837.21 points. The Philadelphia Semiconductor Index closed up 5.21%, its largest one-day gain since June 22.
On July 21, local time, U.S. stocks opened higher and moved higher, with the three major indexes collectively closing higher. Among them, the Dow rose nearly 400 points, and the S&P 500 rebounded after falling for three consecutive days. As of the close, the Dow rose 0.74% to 52,224.64 points, the S&P 500 rose 0.89% to 7,509.2 points, and the Nasdaq rose 1.29% to 25,837.21 points. The Philadelphia Semiconductor Index closed up 5.21%, its largest one-day gain since June 22. The storage sector rebounded strongly, with SanDisk rising over 14%, SK Hynix rising over 13%, Western Digital and Micron Technology rising over 12%, and Seagate Technology rising over 11%. The optical communications sector also rose across the board, with Coherent rising by 11.15%, Lumentum rising by over 9%, Marvell Technology and Corning rising by over 6%. SpaceX rose more than 3%, ending its seven-day losing streak. Currently, investors have regained confidence in technology's profit prospects, driving risk appetite back up. According to FactSet statistics, of the approximately 66 S&P constituent companies that have released financial reports, nearly 88% have exceeded expectations. Market attention further shifted to corporate profits. Tesla and Google parent Alphabet will kick off the earnings season for big tech companies on Wednesday. Microsoft, Meta, Apple and Amazon will announce their results next week. Opened high and moved high, closed higher across the board On July 21, local time, all three major U.S. stock indexes closed higher. As of the close, the Dow rose 0.74% to 52,224.64 points, the S&P 500 rose 0.89% to 7,509.2 points, and the Nasdaq rose 1.29% to 25,837.21 points. 3M closed up more than 7%, leading the gains in the Dow Jones Industrial Average. The company reported quarterly profit that beat Wall Street expectations and raised its full-year profit guidance. Data showed that 3M's second-quarter earnings per share were $2.40, higher than analysts' expectations of $2.24. Revenue reached $6.5 billion, higher than the consensus estimate of $6.4 billion. Adjusted operating profit margin rose to 24.9%, an increase of 40 basis points from the same period last year. Market attention is further turning to corporate profits. Tesla and Google parent Alphabet will kick off the earnings season for big tech companies on Wednesday. Microsoft, Meta, Apple and Amazon will announce their results next week. In terms of sectors, large technology stocks closed with mixed gains, with the Wind Seven U.S. Technology Index rising 0.09%. In terms of individual stocks, Tesla rose by more than 2%, Nvidia rose by nearly 2%, and Apple rose by 0.35%; Google and Microsoft fell by more than 1%, Amazon fell by nearly 1%, and Meta fell by 0.32%. NVIDIA rose 1.97%. On the news, Nvidia announced that the Vera Rubin platform for "gigabit AI factories" is expanding deployment globally. CoreWeave, Google Cloud, Microsoft Azure and Oracle Cloud have begun to adopt the Vera Rubin NVL72 system. CoreWeave tests show that the platform’s token throughput per unit power consumption is increased by 10 times. Apple rose 0.35%. Well-known Apple whistleblower Mark Gurman posted that Apple will launch an "Apple Upgrade" equipment rental program to boost sales. The service is scheduled to go online on July 28. It operates like a subscription system and supports most iPhone, Mac, iPad and Apple Watch models. Users can choose to pay off the device in advance, upgrade to a new model in advance, or keep the device at the end of the lease period. Chip stocks performed strongly, with the Philadelphia Semiconductor Index up 5.21%, Micron Technology up over 12%, Intel up over 8%, AMD up over 8%, ARM up over 7%, Applied Materials up over 7%, Marvel Technology up over 6%, and TSMC up over 5%. On the news, people familiar with the matter said that TSMC has negotiated with customers and plans to increase prices by up to 5% to 10% in 2027 to cover the increase in production material costs. The price increase may cover advanced and mature process chips. US-Iran conflict adds Red Sea risks International oil prices rise to five-week high
According to CCTV News, on July 21, local time, affected by the escalation of mutual attacks between the United States and Iran and the threat of Yemen's Houthi armed forces to block shipping to Saudi Arabia, international oil prices rose by about 2% to the highest level in five weeks. Brent crude oil futures rose $1.79, or 2%, to close at $91.01 a barrel; U.S. West Texas Intermediate crude oil futures rose $1.68, or 2%, to close at $84.91 a barrel. Brent crude oil hit its highest closing price since June 10, while West Texas Intermediate crude oil hit its highest closing price since June 11. The market is concerned that energy transportation in the Middle East is facing further disruptions. The US military attacked targets in southern and western Iran at night, while Iran attacked US facilities in Bahrain, Kuwait and Jordan. At least one oil tanker in the Strait of Hormuz was attacked. The Houthi armed forces announced a naval blockade on Saudi Arabia on the 20th, further expanding the risk of conflict from the Gulf region to the Red Sea routes. On July 21, local time, Fatih Birol, executive director of the International Energy Agency, issued a statement saying that the escalation of conflicts in the Middle East has affected the Strait of Hormuz and regional energy infrastructure, further exacerbating global oil supply security concerns and market uncertainty; the security threat facing the Bab el-Mandeb Strait has also further increased energy transportation risks.
According to CCTV News, on July 21, local time, affected by the escalation of mutual attacks between the United States and Iran and the threat of Yemen's Houthi armed forces to block shipping to Saudi Arabia, international oil prices rose by about 2% to the highest level in five weeks. Brent crude oil futures rose $1.79, or 2%, to close at $91.01 a barrel; U.S. West Texas Intermediate crude oil futures rose $1.68, or 2%, to close at $84.91 a barrel. Brent crude oil hit its highest closing price since June 10, while West Texas Intermediate crude oil hit its highest closing price since June 11. The market is concerned that energy transportation in the Middle East is facing further disruptions. The US military attacked targets in southern and western Iran at night, while Iran attacked US facilities in Bahrain, Kuwait and Jordan. At least one oil tanker in the Strait of Hormuz was attacked. The Houthi armed forces announced a naval blockade on Saudi Arabia on the 20th, further expanding the risk of conflict from the Gulf region to the Red Sea routes. On July 21, local time, Fatih Birol, executive director of the International Energy Agency, issued a statement saying that the escalation of conflicts in the Middle East has affected the Strait of Hormuz and regional energy infrastructure, further exacerbating global oil supply security concerns and market uncertainty; the security threat facing the Bab el-Mandeb Strait has also further increased energy transportation risks.