Dow Futures fell 0.24%, S&P 500 Futures slipped 0.26%, Nasdaq Futures dropped 0.42% as sentiment skewed risk-off.
ProShares Ultra Bloomberg Crude Oil (UCO) rose 3.15%. Oil jumped about 9% after President Trump reinstated an Iran blockade and proposed a 20% Hormuz toll.
United States Oil Fund LP (USO) rose 2.5%. Crude spiked as the U.S. moved to enforce a naval blockade around Iran and shipping risks climbed.
SanDisk Corp. fell 2.31%. Investors weighed Evercore ISI lifting its price target to $3,100 from $1,400 against rising storage-cycle peak worries.
Micron Technology (MU) fell 2.25%. Reports highlighted rivals’ $536 billion capacity plans and Micron announced a decade-long silicon-wafer supply agreement.
Western Digital fell 1.81%. The company scheduled fiscal fourth-quarter results for Aug. 5 after market close.
Intel fell 1.05%. The chipmaker announced a €5 billion expansion of its Irish Fab 34 to boost Xeon production.
Chip stocks fell, with Direxion Daily Semiconductors Bull 3x Shares (SOXL) falling 3.07%, Marvell Technology (MRVL) falling 1.9%, Astera Labs, Inc. (ALAB) falling 1.42%.
Memory chip stocks fell, with Roundhill Memory ETF (DRAM) falling 3.32%.
Among other individual movers, Valero rising 1%, Occidental rising 1%, NEBIUS declining 2.62%, Applied Optoelectronics (AAOI) dropping 2.13%, Rocket Lab USA, Inc. (RKLB) falling 2%, Lumentum slipping 1%, Robinhood sliding 1%, Palantir Technologies Inc. (PLTR) retreating 1%.
Comments