Dow Opens 0.2% Higher; CRCL Surges 11%, Meta Jumps 7%; Memory Stocks Open Lower

Tiger Newspress07-10 21:34

On Friday, The broad market index traded up 0.1%, while the tech-heavy Nasdaq Composite declined 0.1%. The 30-stock Dow Jones Industrial Average rose 126 points, or 0.2%.

Circle Internet Corp. surged more than 11%, and Meta Platforms, Inc. soared over 7%, while memory stocks opened lower with Micron Technology nearly 3%.

Chip stocks were weak ahead of the U.S. debut of South Korean chipmaker SK Hynix on the Nasdaq Friday. The company, which exploded higher this year on the massive demand for memory, is pricing its American depository receipts at $149 each. Some traders worry the new offering may compete for investor funds with U.S. memory stocks like Micron Technology.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment