Memory Stocks Spark a Market Rebound; Dow Jones Joins the Party
On July 21, 2026, U.S. stock markets rallied broadly, led by a surge in memory chip stocks. The Nasdaq Composite rose 1.3%, the S&P 500 gained 0.9%, and the Dow Jones Industrial Average added 0.9%. Micron Technology jumped 10.1% after Morgan Stanley predicted a 25% rise in memory prices due to AI demand, while SK Hynix gained 10.9%. The semiconductor ETF SOXX climbed 5.2%. The Dow was boosted by Caterpillar (up 2.7%) and 3M (up 9.8% on strong earnings). President Trump's announcement of 50% tariffs on Canadian goods had minimal market impact. Oil prices rose above $91 per barrel amid tensions in the Strait of Hormuz, while gold also gained. The rally reflects investor focus on AI-driven semiconductor demand despite geopolitical uncertainties.
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