Memory Chips Snap the Skid — Micron and SanDisk Rip Higher as Wall Street Shakes Off a Three-Day Slide

Chips Lead a Broad Rebound After Last Week's Slide

Memory-Chip Rally Snaps a Three-Day Losing Streak

• Micron Technology surged ▲ 12.26% to $971.59 after strong demand signals for memory chips, leading a broad rally in storage and semiconductor names that pulled the Nasdaq out of its recent slump.
• SanDisk Corporation jumped ▲ 14% and Advanced Micro Devices added ▲ 8%, as flash-storage and chipmaker stocks rallied together on renewed conviction in AI-driven memory demand.
• Strong South Korean export data indicated sustained AI-sector demand overnight, and Nvidia added to the momentum after disclosing an investment stake in neocloud provider Nebius, keeping the AI infrastructure trade in focus.
• The rebound snapped a three-session losing streak for the major averages, even as investors continued to weigh geopolitical and tariff risks tied to the ongoing Middle East conflict and new U.S. trade measures against Canada.

Industrials and Energy Lead, Defensive Names Lag

• Industrials and energy stocks posted the day's strongest sector gains, with 3M pacing the Dow's advance after the company beat earnings estimates and raised its full-year profit outlook on progress in its turnaround plan.
• WTI crude gained ▲ 2% to trade near $85 a barrel, and Brent pushed back toward $89, after continued U.S. strikes on Iran and a Houthi threat of a naval blockade against Saudi Arabia raised fresh concerns about Middle East energy supply.
• Communications services and consumer defensive stocks lagged the broader market, giving back some of their recent relative strength as investors rotated back into cyclical and chip names.
• Investors also weighed new 50% tariffs the administration imposed on an array of Canadian goods — including beer, hockey sticks, milk, and chemicals — though Canadian oil was notably exempted from the measure.

Semiconductors and Earnings Beats Ruled Tuesday

• SanDisk Corporation (SNDK) led gainers, up ▲ 14%, as flash-storage names rallied alongside the broader memory-chip rebound.
• Micron Technology (MU) jumped ▲ 12.26% to $971.59, adding $106.13 a share on renewed AI memory-demand optimism.
• Advanced Micro Devices (AMD) climbed ▲ 8%, riding the same semiconductor tailwind that lifted Micron and SanDisk.
• General Motors (GM) and 3M (MMM) both rose after posting stronger-than-expected quarterly results, while AeroVironment gained on news of a new U.S. Army contract.

Yields, Gold, and Oil All Rose Alongside Stocks

• The Nasdaq Composite led index gains, rising ▲ 1.29% to 25,837.21, while the Russell 2000 climbed ▲ 1.53% to 2,987.40. The S&P 500 added ▲ 0.89% to 7,509.20 and the Dow Jones Industrial Average rose ▲ 0.74% to 52,224.64.
• The 10-year Treasury yield rose to 4.63% even as equities rallied, reflecting investors' continued caution around rate expectations.
• Gold climbed ▲ 1.75% to $4,082.73 an ounce — a sign that safe-haven demand persisted even on a strong day for stocks.
• Halliburton (HAL) slid ▼ 3.1% despite beating earnings and revenue estimates, as investors focused on a 2% drop in Middle East and Asia revenue tied to regional conflict disruption. Danaher (DHR) fell ▼ 11.5% in late trading after order-timing delays from biopharmaceutical clients overshadowed a Q2 earnings beat.

What to Watch Wednesday and the Rest of the Week

• Alphabet and Tesla headline Wednesday's earnings, reporting after the closing bell — investors will be watching AI capital-spending commentary and whether Tesla shows margin progress.
• Intel reports Thursday, July 23, a key test of whether Tuesday's memory-chip rebound has real staying power across the broader semiconductor group.
• Markets continue digesting the new 50% tariffs on Canadian goods, with investors watching for any retaliatory measures or further carve-outs beyond the oil exemption.
• The Middle East remains the key swing factor for oil: Brent's climb toward $89 could extend further if U.S.-Iran strikes continue or the Houthi blockade threat against Saudi Arabia materializes.
• Record margin debt is worth monitoring as a source of potential volatility if sentiment turns, even as Tuesday's rally showed risk appetite remains healthy for now.