US stocks close mixed as memory and chip shares rally, Nasdaq up 1.11%
In short
The three main US stock indexes closed mixed on 19 October: the Nasdaq rose 1.11% and the S&P 500 rose 0.41%, while the Dow fell 0.07%. Memory and semiconductor shares led the gains, and Jiemian reported the Philadelphia Semiconductor Index ended eight straight days of declines.
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US stocks closed mixed on 19 October. The Nasdaq rose 1.11% and the S&P 500 rose 0.41%, while the Dow fell 0.07%, according to CLS, Jiemian and 36Kr. CLS and Jiemian said popular technology stocks generally rose, with memory and semiconductor shares leading the gains. [ 3 , 4 , 5 ]
Jiemian reported that the Philadelphia Semiconductor Index ended eight consecutive days of declines. It said Sandisk rose more than 5%, Amazon nearly 5%, SK Hynix and Marvell Technology more than 4%, Tesla and Navitas Semiconductor more than 3%, and Micron Technology nearly 3%. Intel rose more than 2%, and Nvidia, Google and Broadcom each rose more than 1%. [ 4 ]
Reports differed on some figures. CLS put Amazon's gain at more than 5% and 36Kr at more than 4%. Earlier in the session, 36Kr said Intel was up more than 4%, while its closing report and Jiemian said more than 2%. [ 1 , 3 , 4 , 5 ]
During trading, CLS reported that memory chip stocks rose together at 21:51 local time: Micron Technology up 4.18%, SK Hynix 5.07%, Sandisk 7.23%, Western Digital 5.96%, Seagate Technology 4.67% and Yilian (忆联) ADR 9.08%. It put the Philadelphia Semiconductor Index up 2.80% at that point. [ 2 ]
Jiemian said real estate, food and drink, and cryptocurrency-related stocks fell. Beyond Meat dropped more than 4%, Coinbase and Robinhood more than 2%, and Hershey more than 2%. 36Kr said Microsoft rose slightly, Apple and Meta fell slightly, and most popular US-listed Chinese stocks declined, with iQiyi down more than 2%, NIO down more than 1% and Pinduoduo slightly up. [ 4 , 5 ]
Why it matters
The documents are market reports from Chinese business and tech outlets. They point to a rebound in memory and chip stocks, which pulled the Nasdaq higher, while US-listed Chinese companies mostly fell.
Key facts
- At the 19 October close the Nasdaq rose 1.11%, the S&P 500 rose 0.41% and the Dow fell 0.07%. [ 3 , 4 , 5 ]
- Memory and semiconductor stocks had the biggest gains, according to CLS and Jiemian. [ 3 , 4 ]
- Jiemian reported that the Philadelphia Semiconductor Index ended eight consecutive days of falls. [ 4 ]
- Sandisk rose more than 5%, SK Hynix more than 4% and Micron Technology nearly 3%, according to Jiemian. [ 4 ]
- Amazon rose nearly 5% by Jiemian's account; CLS said more than 5% and 36Kr said more than 4%. [ 3 , 4 , 5 ]
- Real estate, food and drink, and cryptocurrency-related stocks fell, including Beyond Meat (down more than 4%), Coinbase and Robinhood (each down more than 2%). [ 4 ]
- Most popular US-listed Chinese stocks fell, with iQiyi down more than 2% and NIO down more than 1%; Pinduoduo rose slightly. [ 5 ]
Confirmed by several sources
Still unclear
- How much Amazon gained at the close. CLS said more than 5%, Jiemian nearly 5% and 36Kr more than 4%.
- How much Intel gained. 36Kr's earlier report, published during trading, said more than 4%; Jiemian and 36Kr's closing report said more than 2%.
- Why memory and chip shares rose. The documents give no cause.
What local media are saying
Timeline, local time
- 36Kr reported that big US tech stocks were rising together, with Sandisk, Intel and SK Hynix up more than 4%. [ 1 ]
- CLS reported memory stocks up, with the Philadelphia Semiconductor Index up 2.80%. [ 2 ]
- CLS reported the close on 20 October local time: Nasdaq up 1.11%, S&P 500 up 0.41%, Dow down 0.07%. [ 3 ]
- Jiemian published its closing report, noting the end of the chip index's eight-day losing run. [ 4 ]
- 36Kr published its closing report, adding that most popular US-listed Chinese stocks fell. [ 5 ]