Daily US Equity Report 2026-07-10 (Fri)
7/9 (Thu): semis / AI stage a broad-based rebound as risk appetite recovers and defensives are sold on profit-taking — oil pulls back (USO -2.85%), 10Y eases to 4.539%, VIX plunges to 15.84; the memory trio and ARM lead (ARM +9.20% / SNDK +7.59% / MU +4.52%), SMH +2.48%.
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US 07/10 [7/9 (Thu) Semis / AI stage a broad-based rebound, the memory trio and ARM lead, defensives sold on profit-taking: oil pulls back (USO -2.85%) + VIX collapses to 15.84 (-6.27%), risk appetite broadly recovers;ARM +9.20% / ASX +8.31% / SNDK +7.59% / LRCX +6.01% / AMD +5.67% / WDC +5.04% / MU +4.52%, SMH +2.48%; money rotates out of defensives AZN -5.70% / COST -4.21% / PEP -3.25% / XOM -2.60% / PLTR -2.41%;Nasdaq +1.30% close 26,206.89, S&P +0.81% close 7,543.64, Dow +0.27% close 52,487.41; breadth rebounds strongly 132:68]
Data as of: 2026-07-09 (Thu) actual US close · Generated: Taipei 7/10 07:00
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🎯 Today's (7/10) Key Watchpoints
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One-line summary
7/9 (Thu) Semis / AI stage a broad-based rebound, risk appetite recovers, defensives sold on profit-taking — oil pulls back (USO -2.85% close 109.01) tempers inflation expectations, 10Y eases to 4.539%,VIX plunges 6.27% to 15.84 driving broad risk-on: the chip chain extends its V-shaped turn, memory and equipment lead — ARM +9.20% (top large-cap gainer) / ASX +8.31% / SNDK +7.59% / LRCX +6.01% / AMD +5.67% / PANW +5.53% / WDC +5.04% / MRVL +4.99% / META +4.70% / MU +4.52%, SMH +2.48%; conversely the prior defensive winners all catch down: AZN -5.70% / COST -4.21% / PEP -3.25% / XOM -2.60% / PLTR -2.41% / IBM -2.23%. Breadth flips hard to 132:68 = this time it is a 'broad-based rebound,' with money rotating wholesale out of defensives into growth / semis.
Main themes
▲ Semis / memory / equipment lead broadly ARM +9.20%, ASX +8.31%, SNDK +7.59%, LRCX +6.01%, AMD +5.67%, WDC +5.04%, MRVL +4.99%, MU +4.52%, GLW +4.54%, DELL +4.22%, CSCO +3.94%, KLAC +3.77%, STX +3.50%, AVGO +3.20%, AMAT +3.18%
▲ Cybersecurity / networking / copper take the baton PANW +5.53%, FTNT +4.48%, FCX +5.27%, META +4.70%, DDOG +3.03%, CRWD +3.81%
▼ Defensives / pharma / consumer / energy catch down: AZN -5.70%, COST -4.21%, PEP -3.25%, MCK -3.16%, PM -3.15%, XOM -2.60%, CRM -2.45%, COP -2.44%, PLTR -2.41%, IBM -2.23%
↳ “defensives rotate into growth, a broad-based rebound”: opposite to yesterday's 'narrow rebound,' today breadth flipped hard from 56:143 to 132:68 — the oil pullback + VIX collapse released the haven bid, and money rotated from the prior defensive winners (pharma / consumer / energy) to broadly buy back the battered chip chain. All three indices closed green (Nasdaq +1.30% / S&P +0.81% / Dow +0.27%), with SMH +2.48% leading = the breadth base under the semiconductor V-turn has clearly thickened.
Policy & liquidity
Oil pulls back, haven bid unwinds US–Iran tensions did not escalate further + supply worries eased → USO -2.85% close 109.01(giving back after a three-day rally), and energy stocks led the decline (XOM -2.60% / COP -2.44%); the oil pullback tempers inflation expectations, 10Y edges down to 4.539% (-3bp), VIX plunges 6.27% to 15.84 = risk appetite broadly recovers.
Earnings season kicks off this week This week's cadence:7/14 (Tue) JPMorgan / Wells Fargo / Citi / BlackRock kick off + June CPI (the most critical inflation print before the FOMC) → 7/15 (Wed) BofA / Morgan Stanley / Goldman + ASML → 7/16 (Thu) Netflix after the close + TSMC (the most critical fundamental check for memory / equipment) → 7/28-29 FOMC. The chip chain extended its bounce today; TSMC's 7/16 guidance will determine whether the AI capex narrative holds true.
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🌡 Macro Risk Signals 7/9 close · Futu / CNN actuals
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📅 Earnings / Key Events Over the Next 2 Weeks 7/9 - 7/23
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💡 Key Observations
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🔎 Focus stocks: SNDK / MU / WDC / ARM The memory trio V-turn + ARM leads
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| 🚀 Momentum Picks: 5 StocksSelection logic: a momentum × relative-valuation two-factor screen — strong across all three windows (5D/10D/20D), with Fwd P/E within the sector's reasonable range (a valuation gate removes the overly expensive), ranked by a composite of 'momentum strength × valuation cheapness'; revenue/profit/theme are not considered |
1HOOD RobinhoodBrokerage / fintech 5D +5.9%10D +18.4%20D +37.4%Fwd P/E 38.9, reasonableMarket cap $103.7B Still at the top: 5D/10D/20D (5.9/18.4/37.4) aligned across all three, with the highest 20D on the whole list; 7/9 +1.39%, still green, first in both momentum purity and strength; Fwd 38.9 is reasonable within the brokerage growth band. |
2ANET Arista NetworksNetworking equipment 5D +10.8%10D +14.2%20D +21.4%Fwd P/E 41.5, reasonableMarket cap $232.6B The AI-networking leader, up to second: 5D/10D/20D (10.8/14.2/21.4) aligned across all three with 5D accelerating; 7/9 +2.01%, still green; Fwd 41.5 sits within the networking growth band, the most balanced momentum purity on the list. |
3SCHW Charles SchwabBrokerage / fintech 5D +6.4%10D +11.5%20D +14.8%Fwd P/E 13.8 ★ cheapMarket cap $177.2B Deep value + aligned across all three windows: 5D/10D/20D (6.4/11.5/14.8) a strong staircase; Fwd of just 13.8 is the cheapest end of the whole list, strong in both momentum purity and valuation, staying third. |
4DELL DellAI servers 5D +5.9%10D +3.7%20D +17.9%Fwd P/E 20.9 ★ cheapMarket cap $290.9B AI servers, newly added: 5D/10D/20D (5.9/3.7/17.9) aligned across all three, 7/9 +4.22% leading the bounce; Fwd 20.9 is a cheap band for AI hardware, price up on rising volume, prioritized in by the valuation gate. |
5ASX ASE TechnologySemiconductor OSAT 5D +0.6%10D +4.6%20D +23.3%Fwd P/E 21.7, reasonableMarket cap $94.9B Semiconductor OSAT, newly added: 5D/10D/20D (0.6/4.6/23.3) aligned across all three, second-highest 20D, 7/9 +8.31%, a volume breakoutjoining the semiconductor rebound; Fwd 21.7 is a reasonable OSAT band, momentum re-accelerating as a new entry. |
* This 'momentum pick' uses a momentum + relative-valuation two-factor ranking: the universe is the top 200 by market cap, requiring 5D/10D/20D positive across all three windows, and using each sector's reasonable Fwd P/E range as a valuation gate.7/9 reshuffle: HOOD stays at the top(20D +37.4, the strongest momentum),ANET rises to second(5D +10.8, accelerating), SCHW stays third (Fwd 13.8, the cheapest);DELL (Fwd 20.9, cheap) / ASX (+8.31%, breakout) are new additions;SPGI (20D fell to +7.7, momentum weakening) / PGR (7/9 -1.45%, catching down with defensives) drop to the waitlist;CRWD (Fwd 127) / NET (Fwd 174.7) / DDOG (Fwd 93.4) are removed by the valuation gate, with FTNT / MELI / IBM also on the waitlist. Each % is Yahoo's 7/9 actual close (cross-checked with Futu), and Fwd P/E is Yahoo's same-day value. High-momentum names also pull back fast — be sure to set stops and position limits. This information is for reference only and does not constitute investment advice.
📋 Full ListTop 200 by market cap · 20D gain > 20% · sorted by 20D
Semis · Memory/CPU Semis · Logic/ASIC/Equipment Software/Cybersecurity Non-tech |Green= up on 7/9 Red= down on 7/9 |Rank / on list:▲▼= compared with the prior trading day's (7/8 close) rank,★ new entry= new to the list this period,+N= consecutive trading days on the list (including 7/9)
| Ticker / Name | Price | Gain (20D) | 1D (7/9) | 5D | 20D | YTD | Fwd P/E | Net income ($100M) | Market cap ($100M) | Rank / on list | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOOD RobinhoodBrokerage / fintech | 115.11 | +1.39% | +5.95% | +37.41% | -0.10% | 38.9 | 19 as of 3/31 | 1,037 | —+6 | |||
| PANW Palo AltoNetwork security | 338.31 | +5.53% | -3.90% | +29.86% | +88.61% | 82.1 | 8 as of 4/30 | 2,757 | —+5 | |||
| ASX ASE TechnologySemiconductor OSAT | 43.25 | +8.31% | +0.60% | +23.29% | +156.50% | 21.7 | 15* as of 3/31 | 949 | ★ new entry+1 | |||
| CRWD CrowdStrikeEndpoint security | 198.40 | +3.81% | +2.70% | +23.05% | +75.00% | 127.0 | -0.3 as of 4/30 | 2,020 | ★ new entry+1 | |||
| ANET AristaNetworking equipment | 184.69 | +2.01% | +10.85% | +21.38% | +38.20% | 41.5 | 37 as of 3/31 | 2,326 | ★ new entry+1 |
*The 20D > 20% main list expands from 2 to 5 names:HOOD (+37.41) stays at the top(7/9 +1.39%, still green, momentum re-accelerating), PANW (+29.86) stays second (7/9 +5.53%, cybersecurity catching up);ASX (+23.29) / CRWD (+23.05) / ANET (+21.38), three new entries — semiconductor OSAT (ASX +8.31%, breakout), cybersecurity (CRWD) and AI networking (ANET) climbed back above the threshold as risk appetite recovered. The list expanding again = 20D momentum across semis / cybersecurity / networking is strengthening in tandem.Net income= trailing-four-quarter (TTM) total, in US$100M, where 'as of M/D' is the latest fiscal quarter-end, updated after the next quarter's earnings;* CRWD net income TTM is about -$30M (near breakeven);ASX net income is originally in New Taiwan dollars, converted to an approximate USD value at ~32.5 (marked '*').
📋 Full List (5D Momentum)Top 200 by market cap · 5D gain > 10% · sorted by 5D
Semis · Memory/CPU Semis · Logic/ASIC/Equipment Software/Cybersecurity Non-tech |Green= up on 7/9 Red= down on 7/9 |Rank / on list:▲▼= compared with the prior trading day's (7/8 close) rank,★ new entry= new to the list this period,+N= consecutive trading days on the list (including 7/9)
| Ticker / Name | Price | Gain (5D) | 5D | 20D | 1D (7/9) | YTD | Fwd P/E | Net income ($100M) | Market cap ($100M) | Rank / on list | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BABA AlibabaChina ADR e-commerce/cloud | 111.14 | +13.42% | -7.15% | +1.98% | -28.60% | 12.3 | 148* as of 3/31 | 2,664 | —+2 | |||
| NET CloudflareCloud/CDN | 275.80 | +11.97% | +16.80% | +0.88% | +40.70% | 174.7 | -1 as of 3/31 | 979 | ▲3+3 | |||
| ANET AristaNetworking equipment | 184.69 | +10.85% | +21.38% | +2.01% | +38.20% | 41.5 | 37 as of 3/31 | 2,326 | ★ new entry+1 |
* The 5D momentum list narrows sharply from 8 names to 3 names(5D > 10%):BABA (+13.42), the China ADR, stays at the top,NET (+11.97) rises to second(cloud / cybersecurity momentum accelerating),ANET (+10.85), a new entry at third(AI networking 5D strengthening).PLTR / HOOD / SPGI / SCHW / PDD / CME drop off the list(5D fell below the 10% threshold as the base rolled or momentum weakened). The list shrinks to three names — China ADR + cloud + networking,still without a single memory or semiconductor name(although the chip chain surged today, most 5D readings remain deeply negative).Net income= trailing-four-quarter (TTM) total, in US$100M (where 'as of M/D' is the latest fiscal quarter-end); updated after the next quarter's earnings;* NET net income TTM is about -$100M (near breakeven);BABA net income is originally in RMB, converted to an approximate USD value at ~7.2 (marked '*').
🤖 AI Sub-sector Breakdown After 7/9 close · 20D average
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📈 Breadth Snapshot Top 200 by market cap · 7/9 advancers/decliners
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* 7/9 breadth flips hard:132 advancers vs 68 decliners(advance/decline ratio 1.94:1), consistent with all three indices closing green — semis / memory / cybersecurity / networking lead broadly, and money rotated wholesale out of defensives (pharma / consumer / energy) back into growth. Opposite to yesterday's 'narrow rebound' (56:143), this is a classic 'broad-based rebound day': the breadth base under the semiconductor V-turn has clearly thickened, but memory's 5D is still negative and continuation still awaits fundamental confirmation from TSMC on 7/16.
🔁 7/8 → 7/9 Change Tracker
| Stock | 7/8 close (back-calculated) | 7/9 close | 7/9 change | Key change |
|---|---|---|---|---|
| ARM Arm | $300.24 | $327.87 | +9.20% | the day's top large-cap (>$2B) gainer, a volume breakout leading the semiconductor rebound |
| ASX ASE Technology | $39.93 | $43.25 | +8.31% | semiconductor OSAT breakout, 20D +23.3%, a new entry on the 20D list + fifth among momentum picks |
| SNDK SanDisk | $1,727.18 | $1,858.27 | +7.59% | the strongest memory rebound, the pure-play NAND leading for a second straight day; 20D turned positive at +12.9%, but 5D is still -8.6% |
| LRCX Lam Research | $333.15 | $353.17 | +6.01% | semiconductor equipment leads the bounce, 20D +8.0%; but 5D is still -9.7%, a deep drop not yet recovered |
| AMD AMD | $517.41 | $546.72 | +5.67% | CPU/GPU rebound, 20D +15.0% aligned across all three windows; money returning to AI chips |
| WDC Western Digital | $550.30 | $578.05 | +5.04% | HDD storage extends its bounce, 20D +11.7%; but 10D is still -10.2% |
| MU Micron | $948.80 | $991.64 | +4.52% | The memory leader extends its bounce and holds above $1,000, 20D turned positive at +6.0%; Fwd 6.6, deep value |
| AZN AstraZeneca | $189.28 | $178.49 | -5.70% | the day's biggest decliner: the prior pharma-defensive winner is sold on profit-taking, money rotating back into chips |
| COST Costco | $953.13 | $912.97 | -4.21% | consumer defensives catch down as haven money exits; PEP -3.25% / PM -3.15% weaken in tandem |
| XOM ExxonMobil | $141.13 | $137.46 | -2.60% | the oil pullback (USO -2.85%) weighs on energy, COP -2.44% falls alongside |
| PLTR Palantir | $132.22 | $129.04 | -2.41% | AI software gives back, dropping off the 5D momentum list; the software / AI-cloud sector lags the chip rebound |
* The 7/8→7/9 theme is 'a broad semiconductor / memory rebound + profit-taking in defensives': the oil pullback + VIX collapse released the haven bid, the chip chain extended its V-turn (ARM / ASX / SNDK / LRCX / AMD / WDC / MU), and the prior defensive winners (pharma AZN, consumer COST / PEP, energy XOM, AI-software PLTR) caught down as money rotated; breadth flipped hard from 56:143 to 132:68. The prior day's back-calculated close = 7/9 close ÷ (1 + 7/9 change%).
📝 Summary Core conclusions after the 7/9 close
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① Market structure: all three indices closed green, breadth flipped hard — Nasdaq +1.30% close 26,206.89, S&P +0.81% close 7,543.64, Dow +0.27% close 52,487.41,SMH +2.48%. Opposite to yesterday's 'narrow rebound,' breadth flipped hard from 56:143 132:68, VIX plunged 6.27% to 15.84 = a classic 'broad-based rebound day,' risk appetite broadly recovers, money rotating wholesale out of defensives into growth.
② Theme 1: ARM leads, a broad semiconductor / memory rebound:ARM +9.20% (top large-cap gainer)drives a broad chip-chain rebound — ASX +8.31% / SNDK +7.59% / LRCX +6.01% / AMD +5.67% / WDC +5.04% / MRVL +4.99% / MU +4.52%, SMH +2.48%. The memory trio (SNDK / MU / WDC) all turned 20D positive, but 5D is still negative (SNDK -8.6% / MU -3.9%) = the V-turn continues, its survival hinging on fundamental confirmation from TSMC / ASML on 7/16.
③ Theme 2: Defensives sold on profit-taking, money rotates back into growth: the oil pullback (USO -2.85%) + VIX collapse + recovering risk appetite → money pulled out wholesale from the prior defensive winners — AZN -5.70% (pharma) / COST -4.21% (retail) / PEP -3.25% / MCK -3.16% / XOM -2.60% (energy) / COP -2.44% / PLTR -2.41%. Pharma / consumer / energy all fell, growth / semis all green = this is a broad-based rotation, not a narrow rebound.
④ Theme 3: Cybersecurity / networking take the baton, AI hardware recovers:PANW +5.53% / FTNT +4.48% / CRWD +3.81% The cybersecurity group's 20D +23.8% stays the leader, catch-up accelerating on the day; AI servers / comms (GLW +4.54% / DELL +4.22% / ANET +2.01%) at 20D +13.8% is the second-strongest, money returning to AI hardware. Only software / AI cloud (20D -1.1%) is still the weakest, lagging the chip rebound.
⑤ List changes: the 20D main list 2 → 5 names(HOOD +37.41 stays at the top, PANW +29.86 stays second,ASX / CRWD / ANET three new entries) = 20D momentum across semiconductor OSAT / cybersecurity / AI networking strengthens in tandem, and the list expands again. The 5D momentum list 8 → 3 names(BABA stays at the top, NET rises to second, ANET a new entry) = short-term momentum narrows, still no semiconductors. Momentum-pick reshuffle:HOOD stays at the top, ANET rises to second, DELL / ASX are new additions(SPGI / PGR drop to the waitlist; CRWD / NET / DDOG removed by the valuation gate).
⑥ Conclusions and this week's strategy: the oil pullback + VIX collapse drove a broad-based rebound, all three indices closed green, and breadth flipped hard from 56:143 to 132:68 = the breadth base under the semiconductor V-turn has clearly thickened. Key watchpoints: (1) whether the chip-chain rebound can continue= memory's 5D is still negative, awaiting TSMC's 7/16 read on AI capex; (2) whether the defensive pullback is rotation or a weakening trend= the 7/14 JPM / WFC / Citi earnings + June CPI will tell the tale; (3) the oil pullback + 10Y easing to 4.54% favors high-multiple tech, but continuation still needs volume-price confirmation. In practice: the momentum core expands into semis (ASX / DELL new) + brokerages / networking (HOOD / ANET / SCHW); broad-based rebound days have a higher hit rate than narrow ones, but chasing memory highs still needs TSMC confirmation — be sure to set stops and position limits.
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Sources: Yahoo Finance (top-200-by-market-cap screen + charts to self-calculate 1D/5D/10D/20D, indices / ETFs / risk indicators / Fwd P/E / net income; cross-checked consistent with Futu's Top 200 page 1), CNN Fear & Greed Index, CNBC / The Motley Fool / TheStreet / Yahoo Finance (7/9 post-close recap, semiconductor rebound, oil pullback, earnings calendar).
This report is for reference only and does not constitute investment advice. All percentages are Yahoo / Futu actuals; F&G and P/E are non-real-time estimated values; BABA net income is in RMB and ASX net income is converted from New Taiwan dollars to an approximate USD value.
DAILY US EQUITY · 2026-07-09 (7/9 US close)
This report is for reference only and does not constitute investment advice. All percentages are Yahoo / Futu actuals; F&G and P/E are non-real-time estimated values; BABA net income is in RMB and ASX net income is converted from New Taiwan dollars to an approximate USD value.
DAILY US EQUITY · 2026-07-09 (7/9 US close)
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