US Opening Bell | Stocks edge higher as Nasdaq outperforms; Micron Technology pops 3.2%, Western Digital up 5.1%; Chip names lead early gains

US Opening Bell06-17

Market

June 17, U.S. stocks opened modestly higher as optimism around semiconductor demand lifted sentiment. The Dow Jones Industrial Average inched up 0.1%, the S&P 500 added 0.2% and the tech-heavy Nasdaq Composite outperformed with a 0.6% advance, supported by strength in large-cap chipmakers. Treasury yields were steady while traders awaited fresh economic data later in the week.

Gainers led early action: Western Digital jumped 5.1% after a bullish analyst note highlighted stronger flash-memory pricing. Micron Technology climbed 3.2% on continued enthusiasm for AI-driven memory demand, while Marvell Technology rose 3.9% on follow-through buying after yesterday’s upbeat guidance. Intel gained 3.0% as investors rotated into legacy chip names, and Silicon Motion Technology added 3.1% amid renewed takeover speculation. On the downside, Lumentum fell 0.6% and Microsoft eased 1.3% on profit-taking.

Broader movers: Semiconductor-linked ETFs rallied, with Direxion Daily Semiconductors Bull 3x Shares up 8.7% and Roundhill Memory ETF up 4.8%. ARM Holdings advanced 3.2%, tracking sector momentum, while GraniteShares 2X Long MRVL Daily ETF surged 9.5%. Conversely, Direxion Daily Semiconductors Bear 3x Shares tumbled 9.2% and Direxion Daily TSLA Bull 2X Shares slipped 1.0% as chip strength and a softer Tesla weighed on inverse and leveraged products.

News

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