US Opening Bell | Stocks open higher; Taiwan Semiconductor Manufacturing, Broadcom jump; Chip stocks rally

Market

July 6, U.S. stocks opened on a firmer footing as investors welcomed a fresh round of upbeat tech headlines. The Dow Jones advanced 0.2%, the S&P 500 added 0.5% and the Nasdaq Composite outperformed with a 0.8% gain, as risk appetite improved on renewed enthusiasm for artificial-intelligence hardware and easing rate fears.

Taiwan Semiconductor Manufacturing climbs 3.1%, Broadcom rises 3.4% and Marvell Technology adds 3.2% as the semiconductor group extends its summer breakout. Micron Technology jumps 3.0% on memory-price optimism, while Advanced Micro Devices improves 2.6% after unveiling a new AI accelerator. Western Digital spikes 5.8% on stronger NAND pricing. On the downside, Universe Pharmaceuticals tumbles 13.2%, Token Cat Ltd dives 14.7% and ServiceNow slips 1.2% as profit taking hits select small caps and high-growth software names.

Broader movers include XPeng Inc. up 3.2%, NIO Inc. up 2.5%, PDD Holdings Inc up 2.0%, Alibaba up 1.9% and JD.com up 1.0% as Chinese ADRs ride a rebound in travel and e-commerce demand. Li Auto eases 1.3% and Yatsen Holding Limited sinks 3.0% amid mixed consumer sentiment, while trip-related plays such as Trip.com Group Limited edge 0.4% higher.

News

Taiwan Semiconductor Manufacturing lifts third-quarter sales guidance. Management cited robust demand for advanced 3-nanometer chips used in AI servers and smartphones, driving shares 3% higher at the open.

Broadcom announces new $15 billion share-repurchase program. The commitment extends capital returns and bolsters confidence in the chipmaker’s margin outlook, sending the stock up more than 3%.

Marvell Technology secures multiyear cloud-AI accelerator contract. Analysts estimate the deal could add $500 million in annual revenue once fully ramped, fueling a 3% pop in early trade.

Western Digital rallies on report of 8% jump in July NAND contract prices. The memory supplier also reiterated plans to separate its flash and HDD units by year-end, boosting the shares nearly 6%.

Micron Technology hikes DRAM prices for data-center customers. The move signals tightening supply and underpins a 3% rise in the stock despite broader market caution.

Tesla Motors delivers record 280,000 vehicles in June quarter. Strong Model Y shipments offset softer Cybertruck ramp, lifting the stock about 2% and soothing demand concerns.

Advanced Micro Devices unveils Instinct MI350 accelerator family. The new chip promises 30% faster AI inference, supporting a 2% advance and heightening competition with NVIDIA.

Meta Platforms rolls out AI-generated ad features across Instagram and Facebook. Early advertiser tests show engagement gains, pushing the share price up over 2%.

ServiceNow cut to “Hold” on valuation by major broker. The downgrade questions upside after a strong year-to-date rally, knocking the stock 1% lower in morning dealings.

Universe Pharmaceuticals slides after FDA issues warning letter on manufacturing lapses. The company said it will submit a remediation plan within 15 days, yet shares plunged more than 13% on regulatory uncertainty.