US Opening Bell | Nasdaq climbs 0.5%; Micron Technology jumps 5%; Chip stocks rally

Market

July 14, U.S. stocks opened mixed as the Dow Jones slipped 0.14%, the S&P 500 added 0.19% and the Nasdaq Composite advanced 0.54%. Traders rotated back into high-growth technology shares after solid chip earnings, offsetting weakness in industrial blue chips.

Micron Technology rises 5.21% after upbeat guidance, SK hynix climbs 11.03% on booming HBM demand, Lumentum gains 8.44% on takeover chatter, Advanced Micro Devices adds 5.98% following new AI chip orders, Direxion Daily Semiconductors Bull 3x Shares jumps 10.80%. On the downside, IBM falls 22.99% after a profit warning, ServiceNow drops 7.03% on a broker downgrade, Palantir Technologies retreats 4.62% after a secondary offering.

T-REX 2X Long DRAM Daily Target ETF surges 12.88%, Direxion Daily MU Bull 2X Shares advances 10.85%, Direxion Daily MSCI South Korea Bull 3x Shares rallies 9.12%, Roundhill Memory ETF climbs 6.46%, while China EV ADRs NIO, XPeng Inc. and Li Auto gain 4.67%, 3.86% and 3.28% respectively on fresh purchase-incentive speculation.

News

Micron Technology lifts outlook and boosts shares. The memory maker forecast stronger fiscal Q4 revenue on AI demand, sending the stock up more than 5% at the open.

IBM issues profit warning and stock plunges. The company cited weaker consulting orders and higher costs, erasing over $30 billion in market value.

Advanced Micro Devices secures large AI accelerator order. Industry sources said a top cloud provider booked 150,000 MI325X units, driving a 6% pre-market pop.

Lumentum explores strategic alternatives. Bloomberg reported the optical-laser firm is working with advisers on a potential sale, pushing the share price up nearly 8%.

ServiceNow downgraded to Sell at Citi. Analysts warned of slowing platform expansion, sparking a 7% slide in early trading.

SK hynix ADRs soar on record HBM backlog. The Korean chipmaker said its 2027 capacity is fully booked, fueling an 11% jump in U.S. trading.

June U.S. PPI tops estimates at 0.4%. The hotter-than-expected print reignited debate over further Fed hikes, nudging Treasury yields higher.

Tesla Motors gains as China sales accelerate. Weekly registration data showed a 12% sequential increase, supporting the stock’s 1% rise.

Palantir Technologies launches $1 billion secondary offering. Insider share sales weighed on sentiment, sending the stock down more than 4%.

CrowdStrike wins $1.2 billion Pentagon contract. The multiyear deal to secure defense networks lifted shares about 2% in early action.