US stock indices opened mixed on the 6th (local time) at 9:43 AM as technology stocks rebounded from last week's pullback. The Dow Jones Industrial Average fell 0.15% to 52,822.18, while the S&P 500 rose 0.29% to 7,505.08 and the Nasdaq Composite climbed 0.70% to 26,013.03. The rally in tech stocks was driven by Broadcom's announcement of an expanded partnership with Apple through 2031 to develop and supply custom chips, lifting Broadcom shares 5.88%. Analysts noted that sector rotation into financials, healthcare, and industrials — all reaching weekly record highs — fully offset recent semiconductor sector adjustments, with Mark Newton of Fundstrat stating that 'the expansion of sector rotation is a very positive signal' and that semiconductor stabilization 'did not leave a significant mark on overall market indices.' David Morrison of Trade Nation highlighted the importance of the current earnings season for the Magnificent 7, observing that 'the market atmosphere is such that even a little good news could allow these stocks to resume their rally.'
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New York Stock Exchange. Photo: Yonhap News
Broadcom-Apple Partnership Drives Semiconductor Rebound
Broadcom shares jumped 5.88% following the announcement of an expanded partnership with Apple through 2031 to develop and supply a range of custom chips. The news catalyzed a broader rebound in semiconductor stocks, which had shown weakness last week. Memory chip makers Western Digital and Seagate rose 8.51% and 5.27% respectively, while Micron Technology gained 2.89%. Mark Newton, Head of Technical Strategy at Fundstrat, stated that 'the expansion of sector rotation is a very positive signal, with financials, healthcare, and industrials all recording weekly record highs, more than offsetting the semiconductor sector adjustment' and that 'even as semiconductors stabilize, they have not left a significant mark on overall market indices.'
Memory Chip Makers Rally on Sector Rotation
Memory semiconductor companies posted strong gains as investors rotated into technology stocks. Western Digital climbed 8.51%, Seagate advanced 5.27%, and Micron Technology rose 2.89%. The moves came as analysts emphasized the positive signal from broadening sector participation. Financials, healthcare, and industrials all reached weekly record highs, demonstrating market breadth beyond the semiconductor sector. David Morrison, Senior Market Analyst at Trade Nation, noted that 'this earnings season is important because the Magnificent 7 have been going through a rather difficult time recently' and that 'the market atmosphere is such that even a little good news could allow these stocks to resume their rally.'
ASML Gains on Bernstein Target Raise
ASML shares rose 3.32% after Bernstein raised its price target for the company by more than 30% to $2,300. Bernstein stated that the new target reflects 'an unprecedented expansion of logic semiconductor and DRAM production capacity driven by artificial intelligence.' The upgrade underscored analyst confidence in the equipment maker's positioning within the AI-driven semiconductor manufacturing buildout.
Strategy Declines After Bitcoin Sale
Strategy shares fell 2.17% following news that the company sold 3,588 bitcoin worth $216 million last week. The sale marked a notable transaction for the firm, which has been active in cryptocurrency holdings. The stock decline reflected investor reaction to the liquidation of the digital asset position.
European Indices Fall Across Major Markets
European stock indices declined in unison during the trading session. The EuroStoxx 50 index fell 0.51% to 6,379.84. The UK's FTSE 100 index and Germany's DAX index dropped 0.24% and 0.23% respectively, while France's CAC 40 index declined 0.29%. The weakness in European equities contrasted with the mixed-to-positive performance in US technology stocks.
WTI Crude Edges Higher
International oil prices showed modest gains. At the same time as the US stock market opening, the near-month August 2026 delivery West Texas Intermediate (WTI) crude oil contract rose 0.04% to $68.72 per barrel. The slight increase reflected stable demand expectations and supply conditions in global energy markets.
FAQ
What did US stock indices do on the 6th at 9:43 AM local time?
US stock indices opened mixed on the 6th (local time) at 9:43 AM. The Dow Jones Industrial Average fell 0.15% to 52,822.18, the S&P 500 rose 0.29% to 7,505.08, and the Nasdaq Composite climbed 0.70% to 26,013.03. Technology stocks rebounded from last week's pullback.
Why did Broadcom shares rise 5.88%?
Broadcom shares jumped 5.88% after the company announced an expanded partnership with Apple through 2031 to develop and supply a range of custom chips. The news triggered a broader rally in semiconductor stocks.
How did memory chip makers perform during the session?
Memory chip makers posted strong gains. Western Digital rose 8.51%, Seagate advanced 5.27%, and Micron Technology gained 2.89%. The moves came as sector rotation into technology stocks drove investor demand.
