Stock Market Today, July 21: Micron Surges 12% as Semiconductor Strength Lifts Nasdaq
The Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.29% to 25,837, the S&P 500 (SNPINDEX:^GSPC) rose 0.89% to 7,509 ,and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.74% to 52,225, snapping a three-session losing streak as semiconductor strength outweighed trade and geopolitical tensions.
Gold prices rose 1.75% to $4,082.73 as of U.S. market close, and the 10-Year Treasury yield climbed 0.03% to 4.63%. Industrial and energy shares gained the most, while communications and consumer defensive stocks were in the red.
Today's biggest moves
Micron Technology surged 12%, and Sandisk Corporation soared 14% in a memory-led technology rally. An 8% increase from Advanced Micro Devices extended yesterday’s gains following its artificial intelligence (AI) deal with Microsoft. General Motors lifted early sentiment on strong quarterly results, and AeroVironment shares pushed upwards on news of a new U.S. Army contract.
What this means for investors
Beaten-down semiconductor stocks rebounded today, boosting the tech-heavy Nasdaq despite increasing geopolitical concerns and renewed tariff uncertainty. WTI crude oil gained 2% to trade at almost $85 a barrel, and analysts weighed the implications of a proposed 50% tariff on a range of Canadian goods.
Further inflation fears didn’t slow investor enthusiasm for chip stocks, particularly as strong export data from South Korea showed continued AI demand. For investors, today’s gains offer some reassurance that the recent pullback was more of a reset rather than a wider loss of confidence. Tomorrow’s results from Alphabet and Tesla will provide more insight into the correlation between heavy AI spending and earnings.
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Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, AeroVironment, Alphabet, Micron Technology, Microsoft, and Tesla. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy.
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