Chip rally lifts Nasdaq 1.93% as oil tops $90 on Middle East escalation

The Nasdaq closed at 29,155 on chipmaker strength while Brent settled just above $91 and the 10-year Treasury yield rose to about 4.62%, its first move since June, reviving talk of a July 29 Fed hike

Deepakshi

Kristal Research & Marketing team

22 Jul2 min

Key takeaways — AI summary

The Nasdaq jumped 1.93% to 29,155, the S&P 500 rose 0.89% to 7,509 and the Dow added 0.74%, led by memory-chip names ahead of after-close earnings from Alphabet, Tesla and IBM.
Chip sentiment was helped by Taiwan's June export orders rising 59% year-on-year and TSMC's plan to raise chip prices by up to 10% in 2027; Nvidia rose 1.78% after disclosing a 9.3% passive stake in Nebius.
Brent crude settled just above $91 a barrel, its first close over $90 since June, after Houthi warnings turned back six Saudi vessels; US forces struck inside Iran overnight and Iran hit US sites in Bahrain, Kuwait and Jordan.
Higher oil pushed the 10-year Treasury yield to about 4.62%, a two-month high, with money markets now leaning toward another Fed rate hike at the July 29 meeting.
Utz Brands surged 88.93% on a take-private deal with Germany's Intersnack; Adobe fell 3.38% after Morgan Stanley cut it to underweight and lowered its target to $240 from $365.

Generated by Kristal AI · reviewed by the research desk

The full newsletter

Related research

Kristal PulseNew

US stocks slip as oil jumps 2.75% and a Fed rate hike stays on the table

The S&P 500 eased 0.18% to 7,710 and the Nasdaq fell 0.39% to 29,373 as crude rose to $77.29 on Middle East tension, while resilient jobs data and a September hike report lifted the 10-year yield to 4.67%.

Deepakshi7 Aug2 min

Kristal Pulse

Alphabet AI talent exodus and weak jobs data pull US stocks mixed

Nasdaq 100 fell 0.83% to 29,488 as Alphabet dropped 4% on staff departures, ADP showed just 44,000 July jobs, and gold climbed to $4,264

Deepakshi6 Aug2 min

Kristal Pulse

AI trade roars back to lift S&P 500 to a record 7,737 as oil tumbles 5.7%

The Nasdaq jumped 3.3% to 29,733 on broad tech strength while US crude fell to $75.77 on a US-Iran deal to reopen the Strait of Hormuz.

Deepakshi5 Aug