S&P 500, Nasdaq open higher as SK Hynix lifts chips; Fed in focus
The S&P 500 and the Nasdaq opened higher on Wednesday, lifted by a surge in memory-chip stocks following strong financial results from SK Hynix. Traders kept their focus on upcoming Big Tech corporate earnings and the upcoming Federal Reserve rate decision. SK Hynix reported a more than sevenfold jump in quarterly profit, sending its US-listed shares up 8.5 percent. Other semiconductor firms and data storage companies also saw gains in premarket trading, reflecting strong market demand for artificial intelligence infrastructure.
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- ✓ The S&P 500 and the Nasdaq opened higher on Wednesday.
- ✓ SK Hynix reported a more than sevenfold jump in quarterly profit.
- ✓ SK Hynix US-listed shares jumped 8.5 percent.
- ✓ Micron Technology gained 4.2 percent in premarket trading.
What changed
SK Hynix reported a more than sevenfold jump in quarterly profit, driving rallies across global memory-chip and AI-related stocks.
Live updates
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S&P 500, Nasdaq Open Higher on SK Hynix Earnings
The S&P 500 and the Nasdaq opened higher on Wednesday, lifted by a surge in memory-chip stocks following strong financial results from SK Hynix. Traders kept their focus on upcoming Big Tech corporate earnings and the upcoming Federal Reserve rate decision. SK Hynix reported a more than sevenfold jump in quarterly profit, sending its US-listed shares up 8.5 percent. Other semiconductor firms and data storage companies also saw gains in premarket trading, reflecting strong market demand for artificial intelligence infrastructure.
Why it matters
Memory chip stocks are currently acting as a major bellwether for the broader artificial intelligence trade. Investors are closely monitoring the semiconductor sector for signs of sustained demand before committing capital to upcoming tech earnings. At the same time, the Federal Reserve rate decision remains a critical macroeconomic factor influencing broader market sentiment.
What is confirmed
- The S&P 500 and the Nasdaq opened higher on Wednesday.
- SK Hynix reported a more than sevenfold jump in quarterly profit.
- SK Hynix US-listed shares jumped 8.5 percent.
- Micron Technology gained 4.2 percent in premarket trading.
- Dow E-minis were down 121 points, or 0.23 percent, S&P 500 E-minis were up 10.75 points, or 0.14 percent, and Nasdaq 100 E-minis were up 133.25 points, or 0.45 percent.
Still unconfirmed
- OpenAI plans to buy Google's AI chips.
What to watch next
- The upcoming Federal Reserve rate decision.
- A slate of key Big Tech corporate earnings reports.
confidence 100%Sources used for this update (12)
- www.marketscreener.com — Global Stocks Fall on Higher Oil Prices, AI Pullback | MarketScreener
- CNBC — Stock futures are little changed as traders await Fed decision, Big Tech earnings: Live updates
- SK hynix — SK hynix Announces 3Q26 Financial Results
- Reuters — S&P 500, Nasdaq open higher as SK Hynix lifts chips; Fed in focus
- Yahoo Finance — SK Hynix Jumps 7%, Micron Rises 3% on Memory Shortage Call Through 2030 While Seagate Slips Despite Upbeat Guidance
- Business Insider — SK Hynix's earnings smash sends AI chip stocks up as investors cheer strong demand
- www.kitco.com — Nasdaq futures gain as SK Hynix lifts chips ahead of Fed ...
- malaysia.news.yahoo.com — S&P 500, Nasdaq open higher as SK Hynix lifts chips; Fed in focus - Yahoo News Malaysia
- www.marketscreener.com — S&P 500, Nasdaq open higher as SK Hynix lifts chips; Fed in ...
- economictimes.indiatimes.com — US stocks today: S&P 500, Nasdaq open higher as SK Hynix ...
- www.marketscreener.com — Secret SantAI? Visa Survey Finds Americans Quietly Turning to AI for Holiday Shopping Help
- www.thestandard.com.hk — S&P 500, Nasdaq open higher as SK Hynix lifts chips; Fed in focus - The Standard
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