Wall St Opens Higher; Intel, Micron And Marvell Up 10%; Wolfspeed And Corning Up 8%; Nvidia Up 2%

Market

June 8, U.S. stocks opened higher as a blistering tech rebound lifted the broader market. The Dow Jones added 0.44% to 51,093, the S&P 500 rose 0.93% to 7,452, and the Nasdaq Composite jumped 1.47% to 26,087 amid upbeat semiconductor demand signals and easing rate worries.

Intel leaped 9.94% after unveiling next-generation data-center chips, while Micron Technology advanced 9.70% on a stronger revenue outlook. Marvell Technology climbed 9.14%, Roundhill Memory ETF gained 9.52%, Advanced Micro Devices rose 3.03% and NVIDIA added 2.17%. Bearish plays tumbled, with Direxion Daily Semiconductors Bear 3x Shares down 14.47% and ProShares UltraPro Short QQQ off 5.42%.

Taiwan Semiconductor Manufacturing rallied 2.81%, Apple firmed 1.86% and Tesla Motors gained 1.56%, while Microsoft edged 0.03% higher. Alphabet slipped 1.07% on fresh regulatory headlines and Meta Platforms, Inc. eased 1.10% as investors assessed potential ad-tech headwinds.

News

Micron Technology raises guidance, cites AI memory strength. The chipmaker lifted its fiscal Q4 revenue outlook above prior targets on soaring demand for high-bandwidth memory used in AI servers, boosting the stock nearly 10%.

Intel launches next-gen Xeon processors for data centers. The company said the new lineup delivers double-digit performance gains and energy savings, sending shares up about 10% on anticipated market-share gains.

Marvell Technology beats estimates and issues bullish outlook. Robust AI networking orders drove a revenue beat and upbeat guidance, propelling the stock more than 9% at the open.

NVIDIA extends run after expanding Arm collaboration. A deeper partnership to optimize AI workloads on Arm-based chips pushed shares over 2% to fresh records.

Tesla Motors raises North American vehicle prices. A $1,000 increase on all Model Y trims improved margin expectations and lifted the stock roughly 1.5%.

Apple sets global launch for Vision Pro headset. The company confirmed a late-June rollout in key international markets, driving a 1.8% gain as investors eye new revenue streams.

Alphabet faces new EU antitrust probe into ad tech. Regulators opened a formal investigation of Google’s advertising dominance, nudging U.S. shares down about 1%.

Meta Platforms, Inc. delays teen-focused AI ad tools. The postponement follows regulatory scrutiny over data privacy and weighs on the stock, which slips 1.1%.

Taiwan Semiconductor Manufacturing reports 30% May sales surge. Strong AI chip demand drove the sharp revenue increase, lifting the ADR nearly 3% in early trade.

ProShares UltraPro Short QQQ sinks as tech rally accelerates. The leveraged bearish ETF falls more than 5%, reflecting renewed momentum in megacap growth names.