US Stocks Hold Muted Momentum

2026-07-09 13:35 By Andre Joaquim 1 min. read

US stocks were muted on Thursday as fresh gains for chip producers clashed against an uncertain macroeconomic outlook.

The S&P 500 inched higher and the Nasdaq 100 gained over 0.5%, while the Dow marginally extended yesterday's losses.

Memory chip producers were sharply higher as markets reconsidered the speculative outlook of AI infrastructure manufacturers.

These were magnified by the introduction of SK Hynix ADRs tomorrow, the world's largest memory producer, with reports stating the receipts are seven times oversubscribed.

Micron and Sandisk were 3% up.

Meanwhile, more traditional sectors remained under pressure after having outperformed the tech sector in July.

Treasury yields were higher after strikes between Iran and the US drove tanker traffic in the Persian Gulf to slow, risking higher energy inflation.

Elsewhere, Meta dropped 4% amid reports that it will target production of its own AI chip by September.



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2026-07-09
US Stocks Hold Muted Momentum
US stocks were muted on Thursday as fresh gains for chip producers clashed against an uncertain macroeconomic outlook. The S&P 500 inched higher and the Nasdaq 100 gained over 0.5%, while the Dow marginally extended yesterday's losses. Memory chip producers were sharply higher as markets reconsidered the speculative outlook of AI infrastructure manufacturers. These were magnified by the introduction of SK Hynix ADRs tomorrow, the world's largest memory producer, with reports stating the receipts are seven times oversubscribed. Micron and Sandisk were 3% up. Meanwhile, more traditional sectors remained under pressure after having outperformed the tech sector in July. Treasury yields were higher after strikes between Iran and the US drove tanker traffic in the Persian Gulf to slow, risking higher energy inflation. Elsewhere, Meta dropped 4% amid reports that it will target production of its own AI chip by September.
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Futures tracking US equity indices were muted on Thursday as the uncertain macroeconomic outlook combined with persistent volatility on the heavyweight chip sector. Contracts for the S&P 500 and the Nasdaq 100 were flat while those for the Dow marginally extended yesterday's losses. Memory chip producers were sharply higher premarket as markets reconsidered the speculative outlook of AI infrastructure manufacturers. These were magnified by the introduction of SK Hynix ADRs tomorrow, the world's largest memory producer, with reports stating the receipts are seven times oversubscribed. Micron and Sandisk were 3% up premarket. Meanwhile, more traditional sectors remained under pressure after having outperformed the tech sector in July. Treasury yields were higher after strikes between Iran and the US drove tanker traffic in the Persian Gulf to slow, risking higher energy inflation. Elsewhere, Meta dropped 2% amid reports that it will target production of its own AI chip by September.
2026-07-09