Nasdaq Rises as Oil Falls and Memory Chip Stocks Rebound

finance.yahoo.com

The Nasdaq Composite led modest gains Tuesday, rising 0.56%, as chip stocks recovered from a previous slump and oil prices fell sharply. The S&P 500 and Dow Jones Industrial Average also posted smaller increases in quiet trading ahead of Nvidia's earnings report. Memory chip stocks rebounded after Monday's decline, with Micron Technology gaining 2% and SK Hynix up 2.4%. Nvidia rose 1.6% ahead of Wednesday's report, while Advanced Micro Devices jumped 4.8% on a bullish analyst note. Oil fell 3.4% after President Trump said the Navy cleared mines from the Strait of Hormuz. Gold is on track for its biggest monthly gain since 1999, and Bitcoin touched $80,000 after dipping below $60,000 in June. Investors are watching Nvidia's gross margins, with figures below 75% signaling higher memory costs.


With a significance score of 2.1, this news ranks in the top 22% of today's 33118 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers:


Nasdaq Rises as Oil Falls and Memory Chip Stocks Rebound | News Minimalist