Today’s Market Recap: AI Chip Stocks Gain, SanDisk Surges Nearly 11%, Micron Rises Nearly 4%, Bitcoin Reclaims $80,000

Tracking Market Trends

TradingKey - On September 18, Eastern Time, U.S. stocks capped off a volatile week with the three major benchmarks closing mixed. Tech and semiconductor stocks extended their rebound, lifting the S&P 500 and Nasdaq slightly higher. However, the 10-year U.S. Treasury yield climbed back near 5%, which, coupled with international oil prices remaining above $100, capped overall market risk appetite. For the week, the S&P 500 slipped about 0.1%, the Dow dropped 1.7%, while the Nasdaq gained about 0.7%.

At the close, the Dow Jones Industrial Average fell 0.18% to 51,688.16; the S&P 500 Index rose 0.17% to 7,650.50; and the Nasdaq Composite Index gained 0.39% to 26,522.55.

In terms of sectors and individual stocks, semiconductor shares continued to recover. Nvidia (NVDA) rose 1.34%, SanDisk (SNDK) surged 10.99%, and Micron (MU) gained 3.92%; the Philadelphia Semiconductor Index advanced about 2.78%, rising for the fourth consecutive trading day. The chip sector, which had adjusted sharply earlier due to AI safety discussions, regained capital inflows in the second half of the week, with AI data center, memory chip, and semiconductor equipment stocks showing relative strength.

Crypto-concept stocks were among the best-performing sectors of the day. MicroStrategy (MSTR) surged 16.39%, Coinbase (COIN) jumped 11.66%, and Robinhood (HOOD) gained 9.12%.

In commodities, international crude oil prices fell for consecutive sessions but remained at high levels. Brent crude (UKOIL) fell 0.71% to settle at $101.92; WTI crude (USOIL) dropped 5.58% to settle at $95.46. At Saudi Arabia's request, China asked Iran to curb Houthi attacks on Saudi oil infrastructure, easing some supply disruption concerns. However, the average U.S. retail diesel price has risen to a record $6.45 per gallon, indicating that energy inflation risks have not visibly receded.

In precious metals, gold (XAUUSD) gained 0.85% to $4,378.45, hitting a one-week high. The consecutive decline in oil prices eased some inflation concerns, while short positions in gold built around the Federal Reserve's rate hikes were covered, driving gold to its first weekly gain in nearly a month.

In cryptocurrencies, Bitcoin (BTC) rebounded sharply on Friday, gaining nearly 6% to break back above $80,000 and briefly rising above $81,000. Earlier, the U.S. Senate failed to advance the Clarity Act, and the Fed completed its first rate hike since 2023. However, as the market gradually digested these headwinds and the SEC pushed forward regulatory exemptions for tokenized equities, sentiment in the digital asset market improved. Over the weekend, Bitcoin continued to hold near $81,000.

Market News

Fed's Kashkari says US inflation is "too high across the board." Minneapolis Fed President Neel Kashkari said on Sunday that current US inflation problems stem not only from oil and food prices, but price pressures in services and the broader consumer sector are also elevated. He supported the Fed's decision last week to raise the policy rate to 3.75%-4.00%. The latest dot plot shows that, except for two officials, all other Fed officials expect at least another 25-basis-point rate hike before the end of 2026.

US and China launch new round of talks on AI, trade, and critical minerals. US Treasury Secretary Bessent held talks with Chinese Vice Premier He Lifeng in New York on Sunday, preparing for this week's meeting between the leaders of the two countries. Topics included AI safety rules, tariffs, and the supply of rare earths and critical minerals, while the US-China trade truce set to expire on November 10 also drew attention.

CXMT's fifth-generation DRAM technology platform enters mass production. CXMT announced on Sunday that its fifth-generation memory chip technology platform has achieved mass production, introducing two 24Gb LPDDR5X products. The company stated that the capacity of the new products is 50% higher than the previous generation of similar products, and the number of chips produced per wafer on the new platform has increased by at least 50%. These developments will further intensify competition in the global DRAM market, presenting new supply-side variables for memory makers such as Micron Technology, Samsung Electronics, and SK Hynix.

Anthropic reportedly considers launching new AI model to compete with OpenAI's GPT-6 Astra. Sources said Anthropic is considering releasing a new AI model to counter progress made by OpenAI's latest GPT-6 Astra in the enterprise market. Notably, Anthropic CEO Dario Amodei recently called on the industry to slow down the development of advanced AI capabilities; the new model plan reflects the ongoing tension between AI safety discussions and commercial competition.

Nvidia-backed Nscale officially files for US IPO. UK AI cloud computing company Nscale disclosed that its revenue in the first half of 2026 surged 1,252% year-over-year to $140.6 million, while its net loss widened to $1.02 billion. The company's cumulative contract value has exceeded $103 billion, and it plans to list on the NYSE under the ticker symbol NSCL. This IPO will serve as an important case test for the market to evaluate high valuations and capital expenditure enthusiasm in AI infrastructure.

Buffett officially steps down as chairman of Berkshire Hathaway. Berkshire Hathaway (BRK.B) announced that 96-year-old Warren Buffett has officially stepped down as chairman and transitioned to honorary chairman, with his son Howard Buffett succeeding him as non-executive chairman. Greg Abel continues to serve as CEO. The adjustment signifies that Berkshire's decades-long leadership transition is moving further toward completion.

Bank of Japan raises interest rate to 1.25%, highest level in 31 years. The Bank of Japan voted 7-2 to raise its policy rate from 1.00% to 1.25%, continuing its efforts to address rising energy prices and upside inflation risks. The decision means the Federal Reserve, the European Central Bank, and the Bank of Japan have all recently taken action or signaled further policy tightening, steering major global economies back into a tighter interest rate environment.

Top 10 Most Active Stocks

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