[New York Stock Exchange] Nasdaq Rises 1.3% as Semiconductor Stocks Rally (Update)

On July 21 (local time), major indices on the New York Stock Exchange all rose, bolstered by strong corporate earnings and a rebound in semiconductor stocks.

On this day, the Dow Jones Industrial Average finished at 52,224.64, up by 385.38 points (0.74%) from the previous close. The S&P 500 index climbed 65.92 points (0.89%) to close at 7,509.20. The tech-heavy Nasdaq Composite Index jumped 329.13 points (1.29%) to 25,837.21.

A second consecutive day of bargain hunting in artificial intelligence (AI) and semiconductor stocks drove the indices higher. Micron Technology, which had fallen over 13% last week, surged by 12.2%. Other major tech stocks such as Nvidia (up 2.0%) and Intel (up 5.9%) also saw robust gains. SK hynix American Depositary Receipts (ADR) climbed by 13.8% as well.

The second quarter results released by major companies on this day were also strong. 3M rose 7.3%, buoyed by the upward revision of its annual profit outlook. General Motors (GM) also gained 4.9% after reporting results that exceeded market expectations on the back of solid North American demand. However, the rise in international oil prices, driven by geopolitical instability in the Middle East, capped the upside as they reached the highest level in about five weeks.

Oil prices ended higher as U.S. airstrikes on Iran continued. September Brent crude futures and August West Texas Intermediate (WTI) crude futures settled at $91.01 per barrel (up 2.01% from the previous session) and $84.91 per barrel (up 2.02%), respectively. For Brent, this was the highest closing price since June 10, and for WTI, the highest since June 11.

The rise in oil prices stoked inflation concerns, leading to an increase in U.S. Treasury yields. The yield on 10-year Treasury notes rose by 4 basis points (1 bp = 0.01 percentage point) from the previous session to 4.63%. The dollar index, which measures the value of the dollar against six major currencies, stood at 101.188 as of 4:40 p.m., up 0.226 from the previous close.

Amid dollar strength, the U.S. dollar to Japanese yen exchange rate reached 163.205 yen, up 0.52% from the previous session. This marks the first time since December 1986 that it has surpassed 163 yen. The U.S. dollar to Korean won exchange rate was quoted at 1,482.0 won.

This content was produced with the assistance of AI translation services.