Memory Stocks Spark Market Rebound; Dow Jones Joins Rally
On July 21, 2026, U.S. stock markets rallied in unison, driven by a surge in semiconductor stocks, particularly memory chip makers. The Nasdaq Composite rose 1.3%, the S&P 500 gained 0.7%, and the Dow Jones Industrial Average added 0.6%. Micron Technology jumped 10.1% after Morgan Stanley predicted a 25% rise in memory prices due to sustained AI demand. SK Hynix, newly listed on Nasdaq, surged 10.9%. The iShares Semiconductor ETF climbed 5.2%. Nvidia rose 1.5% on new AI chip details, while AMD gained 6.1%. The Dow was boosted by Caterpillar (up 2.7%) and 3M (up 9.8% after strong earnings). President Trump's announcement of 50% tariffs on Canadian goods had minimal market impact. Oil prices rose above $91 per barrel amid geopolitical tensions, and gold also gained. The rally reflects investor focus on AI-driven semiconductor demand despite uncertainties.
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