English

Daily US Equity Report 2026-07-11 (Sat)

SK hynix completes the largest foreign-company IPO in U.S. history — SKHYV +12.76% on debut; S&P +0.42% to 7,575.39 nears record highs; META +5.97% (weekly +14.8%) tops the Mag7; NVDA +4.03%; profit-taking in cybersecurity / AI software; VIX 15.03.

📖 Free full sample　This is a complete report you can read for free; paid subscribers receive the full U.S., Taiwan & A-share reports every trading day. See plans →免費完整樣本——付費訂閱者每個交易日都會收到美股·台股·A股完整報告。看訂閱方案 →

US STOCKS DAILY REPORT

See other markets →TW StocksA-SharesMemory / AI

US Stocks 07/11　[7/10 (Fri) SK hynix debuts in the largest foreign IPO in history+12.76%; memory landscape reshaped: SKHYV closed $168.01 (priced at 149); MU -1.24% on rotation vs SNDK +3.10%; META +5.97%, up 14.8% for the week, leading the Mag7; NVDA +4.03%; Apple sues OpenAI over AI hardware trade secrets; profit-taking in cybersecurity / AI softwareCRWD -5.66% / DDOG -4.26% / PANW -3.67%;S&P +0.42% to 7,575.39, again nearing record highs; Nasdaq +0.29% to 26,281.61; Dow +0.29% to 52,637.01; VIX -5.11% to 15.03, breadth cooled to 116:83]

Data as of: 2026-07-10 (Fri) U.S. Eastern close, actual figures　·Generated: Taipei 7/11 07:00

🎯 Today's (7/11) Key Watchpoints

One-line summary

On 7/10 (Fri) SK hynix completed the largest foreign-company IPO in U.S. history, reshaping the memory industry in a single day — SKHYV +12.76% on debut, closing at $168.01 (priced at 149, opened at 170, raised $26.5B — surpassing Alibaba's 2014 record); all three major indexes closed the week higher — S&P +0.42% to 7,575.39, again nearing record highs; Nasdaq +0.29%; Dow +0.29%; META +5.97%, up 14.8% for the week — its best week since early 2024; NVDA +4.03% underpinned the tape; on the flip side, profit-taking hit cybersecurity / AI software and prior-day leaders: CRWD -5.66% / DDOG -4.26% / FTNT -3.80% / PANW -3.67% / DELL -3.39% / HOOD -2.73%. VIX fell another 5.11% to 15.03, though breadth cooled from 132:68 to 116:83 = an internal rotation day after two straight days of broad advance.

Main themes

▲ SK hynix effect; memory / semis divergeSKHYV +12.76% (debut), NVDA +4.03%, SNDK +3.10%, CSCO +2.54%, AMAT +2.35%, STX +2.28%, AMD +2.04% vs MU -1.24% / INTC -2.40% / MRVL -3.07% (pressured by rotation)

▲ Communications / financials / LatAm leadMETA +5.97% (up 14.8% for the week, Mag7 leader), ITUB +4.11%, TMUS +3.38%, MELI +2.46%, XOM +1.03%

▼ Profit-taking in cybersecurity / AI software / prior-day leaders　CRWD -5.66%, SPCX -4.51%, DDOG -4.26%, AZN -3.85%, FTNT -3.80%, GILD -3.72%, PANW -3.67%, DELL -3.39%, HOOD -2.73%, NET -2.68%

↳ "Indexes push on while internals rotate": first rotation cooldown after two straight days of broad advance — breadth narrowed from 132:68 to 116:83 as money took profits in cybersecurity / AI software and prior-day runners (DELL / HOOD / NET), rotating into memory & storage lifted by the SK hynix listing (SNDK / STX), communications (META / TMUS) and mega-cap anchors (NVDA). Weekly closes were higher and VIX at 15.03 keeps grinding lower = the bullish structure is intact, but short-term crowding is starting to unwind.

Policy & Liquidity

SK hynix IPO: a double-edged memory narrativeRaised $26.5B = the largest foreign-company listing in U.S. history (surpassing Alibaba's $25B in 2014), 7x oversubscribed; proceeds go to Korean capacity + EUV equipment. CEO Kwak Noh-jung declared "the memory shortage will persist beyond 2030", reinforcing the long-term bull narrative, though new supply + rotation away from MU cut both ways — the ticker officially SKHY takes effect from Monday.

Apple sues OpenAIFiled 7/10 in federal court in Northern California, accusing OpenAI of trade-secret theft: alleging hardware chief Tang Tan led the poaching of former Apple engineers and obtained unreleased product designs / supply-chain documents — the AI hardware talent war has gone fully legal; AAPL -0.28%, a muted reaction. Watch whether OpenAI's device development gets derailed.

Next week: earnings + CPI, a double catalyst7/14 (Tue) June CPI + JPMorgan / Wells Fargo / Citi / BlackRock open the season → 7/15 (Wed) BofA / MS / Goldman + ASML → 7/16 (Thu) Netflix after the close + TSMC (the key AI-capex checkpoint) → 7/28-29 FOMC. 10Y edged up to 4.57% (+3bp), DXY flat at 100.96, USO -0.28% as oil stabilized; the market has been risk-on for two straight days — a sticky CPI rebound would amplify volatility.

🎁 How the 3-day free trial works / 3 天免費試用如何運作

1. Sign up and link Patreon / 註冊並連結 Patreon

2. Choose a plan to start your trial / 選擇方案開始試用

3. Unlock the full report instantly / 立即解鎖全文

Start Free Trial · 開始 3 天免費試用 →

Cancel anytime, no commitment / 隨時取消，無需綁約

💳 Pay by credit card or PayPal via your Patreon accountYour card details stay with Patreon · 信用卡或 PayPal，由 Patreon 安全處理

Browse other free samples → · 先看其他免費樣本 →

🏛 Market Backdrop7/10 close

SPY S&P 500

$754.95

1D+0.43%

Index7,575.39 (+0.42%)

QQQ Nasdaq 100

$725.51

1D+0.31%

Composite26,281.61 (+0.29%)

IWM Russell 2000

$295.99

1D-0.42%

After two straight rebound dayssmall/mid caps gave back first

SMH Semiconductor ETF

$611.03

1D+0.54%

Third straight green day, NVDA in the lead

🌡 Macro Risk Signals7/10 close · Futu / CNN actuals

VIX / VXN volatility

VIX 15.03 -5.11%

VXN 24.89 -7.51%

VIX fell further from 15.84 to 15.03; VXN dropped from 26.91 to 24.89 — two straight days of compression, back to the one-month low zone; a smooth SK hynix listing + weekly index gains kept hedging demand in retreat.

10Y / 2Y Treasury yields

~4.57%

10Y +3bp uptick

10Y rebounded from ~4.54% to ~4.57%: risk-on money rotating out of bonds + wait-and-see ahead of the 7/14 CPI; rates remain within the recent range and pose no new pressure on high-multiple growth stocks.

DXY dollar / WTI crude

100.96

Dollar 1D+0.02% flat

DXY 100.96 flat; USO crude ETF -0.28% closed 108.70, stabilizing after a two-day pullback — no re-escalation in US-Iran tensions, supply worries keep fading; steadier oil + gold -0.47% to $4,112 = safe-haven assets cooling in tandem.

Fear & Greed Index

49 Neutral

Neutral zone, sentiment not overheated

CNN F&G reading49 (Neutral): indexes keep climbing with VIX at a low 15.03, but breadth cooled to 116:83 + profit-taking in cybersecurity / software → sentiment holding neutral, not overheating with the indexes = still room for sentiment upside.(CNN live reading)

S&P 500 valuation

PE ~25.2 (trailing)

Fwd PE ~21.8

Index +0.42% to 7,575.39, again nearing record highs; Fwd PE ~21.8, above the 10-year mean of 18.9; valuations are in the expensive zone — bank earnings + CPI from 7/14 open the Q2 earnings-verification window.(not an official real-time value)

Nasdaq 100 valuation

PE ~32.2 (trailing)

Fwd PE ~25.1

QQQ +0.31% extended gains; multiple ~32.2, flat at a high level; META +5.97% / NVDA +4.03% held up the tape vs software / cybersecurity giving back = internal rotation, valuation pressure not widening.(not an official real-time value)

📅 Earnings / Key Events, Next 2 Weeks7/10 - 7/24

📌 Major tech / financial / consumer earnings

Done	SK hynix listing (7/10) + SKHY ticker effective (Mon 7/13) Debut +12.76%, closed $168.01; official ticker SKHY effective from Monday — watch post-listing supply digestion and relative-value effects across memory (MU / SNDK / WDC / STX).
7/14 (Tue) ⭐⭐	Q2 earnings season opens · big banks lead off JPMorgan / Wells Fargo / Citi / BlackRock pre-market; focus on net interest income, credit quality and consumer resilience — same day as June CPI, volatility easily amplified.
7/15 (Wed) ⭐⭐	BofA / Morgan Stanley / Goldman + ASML Investment-banking / IPO recovery in focus (the SK hynix deal hints at strong underwriting momentum); ASML is the equipment-demand sentinel ahead of TSMC on 7/16.
7/16 (Thu) ⭐⭐⭐	Netflix after the close + TSMC ★most critical of this wave whether the semiconductor comeback can continuethe most important fundamental checkpoint: TSMC's tone on AI capex and leading-edge demand directly decides the fate of the "AI capex peaking" thesis; and whether SK hynix CEO's "shortage beyond 2030" claim gets foundry-side corroboration.
7/22 (Wed) ⭐⭐	Tesla Q2 earnings After the Q2 delivery beat + Robotaxi expansion, margins and per-vehicle economics are key; TSLA 20D +6.9%, momentum stabilizing.

📊 Macro / policy events

7/13 (Mon)	TSMC June revenue Monthly revenue ahead of the 7/16 call; a leading indicator of whether AI leading-edge momentum continues.
7/14 (Tue) ⭐⭐	June CPI (8:30 ET) The most critical inflation print before the FOMC (7/28-29), same day as big-bank earnings; June oil was choppy, energy components are the wild card — after two risk-on days, volatility easily amplified.
7/16 (Thu)	June retail sales + PPI A consumer-resilience check; with jobs cooling, retail data matters even more for the "soft landing vs cooling too fast" read.
7/28-29 (Tue-Wed) ⭐⭐	FOMC rate decision ★late-month main event July rate decision; jobs cooling vs inflation risk — sets the tone for H2.
Ongoing watch	Apple vs OpenAI lawsuit + US-Iran geopolitics Apple sued OpenAI on 7/10 over AI hardware trade secrets (seeking an injunction and return of documents); US-Iran tensions have not re-escalated and oil has steadied, though supply-side swings still warrant attention.

💡 Key Watch

📈 Daily gainers (top 200 · 1D)

SKHYV +12.76% (listing debut), META +5.97%, ITUB +4.11%, NVDA +4.03%, TMUS +3.38%, SNDK +3.10%, CSCO +2.54%, MELI +2.46%, AMAT +2.35%, STX +2.28%, AMD +2.04%.
SK hynix debut + communications / mega-cap semis led — META up 14.8% for the week, topping the Mag7; NVDA propped up the S&P.

📉 Daily decliners (top 200 · 1D)

CRWD -5.66%, SPCX -4.51%, DDOG -4.26%, AZN -3.85%, FTNT -3.80%, GILD -3.72%, PANW -3.67%, DELL -3.39%, MRVL -3.07%, HOOD -2.73%, NET -2.68%, INTC -2.40%.
Cybersecurity / AI software / prior-day leaders saw concentrated profit-taking — the 20D momentum-list regulars (CRWD / PANW / HOOD / NET / DELL) gave back in tandem.

🔎 Key Story 1: SK hynix — largest foreign IPO in history, memory landscape reshaped

SKHYV +12.76% on debut, closing $168.01 (priced $149, opened $170, 7x oversubscribed): raised $26.5B, surpassing Alibaba's $25B in 2014 as the largest foreign-company listing in U.S. history; proceeds go to Korean capacity + EUV. CEO Kwak Noh-jung: "the memory shortage will persist beyond 2030". The group diverged — SNDK +3.10% / STX +2.28% / WDC +0.78%beneficiaries vs MU -1.24%the hardest-hit by rotation; official ticker SKHY effective Monday.

🔎 Key Story 2: META up 14.8% for the week, Mag7 leader; record insider buying

META +5.97% to $669.21, weekly +14.8% — best week since early 2024, debuting third on the 5D momentum list: BofA keeps its Buy, and an internal memo hints at an improving AI cost structure — a counterexample just as the market frets over AI capex. Another sentiment signal: tech insiders bought their own stock at a record pace over the past six months = industry-insider conviction contrasts with investor caution; 10D +23.3% is the strongest momentum in the Mag7.

🔎 Stocks in Focus: SKHYV / MU / SNDK / METASK hynix listing day · memory divergence + META's Mag7 week

SKHYV SK hynix — $168.01 (7/10 +12.76%)listing debut

• Debut: priced $149 → opened $170 (+14%) → closed $168.01 (+12.76%); 10 ADRs = 1 common share, implying a market cap of roughly $1.2T (approx.), rivaling MU.

• Largest foreign-company U.S. IPO in history: raised $26.5B (surpassing BABA's $25B in 2014), 7x oversubscribed; proceeds go to Korean capacity + EUV equipment.

• CEO Kwak Noh-jung: memory shortage beyond 2030; the HBM leader now lists directly in the U.S. = the main memory-narrative battleground moves stateside; ticker SKHY effective Monday.

MU Micron — $979.30 (7/10 -1.24%)New rival siphons flows

• Momentum: 5D+0.4%, 10D-19.3%, 20D+9.8%, YTD+210.5%, mkt cap $1.11T

• -1.24%, hardest hit: the SK hynix listing drew capital + direct comps — U.S. memory money finally has an "HBM leader" alternative; broke below $1,000.

• Fwd P/E only 6.5, deep-value zone; net income TTM $50.5B (as of 5/28); consolidating after a ~19% pullback from the late-June high, awaiting TSMC's tone on 7/16.

SNDK SanDisk — $1,915.92 (7/10 +3.10%)Memory comeback endures

• Momentum: 5D+9.8%, 10D-18.0%, 20D+16.6%, YTD+596.1%, mkt cap $283.7B

• +3.10%, three straight green days: SK hynix's "shortage beyond 2030" remarks directly reinforce the NAND price-hike narrative — the pure NAND maker benefits rather than suffers.

• Fwd P/E 9.4, value zone; net income TTM $4.5B (as of 4/3); 5D +9.8%, back at the 5D momentum-list threshold, V-shaped recovery still running.

META — $669.21 (7/10 +5.97%)Mag7 weekly champion

• Momentum: 5D+14.8%, 10D+23.3%, 20D+17.2%, YTD+2.9%, mkt cap $1.70T

• +5.97%, top daily gainer (ex-IPO): weekly +14.8%, best since early 2024; BofA keeps its Buy — an internal memo hints at an improving AI cost structure.

• Fwd P/E 18.4, cheap end of the Mag7; net income TTM $70.6B (as of 3/31); YTD only +2.9% = catch-up narrative + all three momentum windows aligned and strong.

🚀 Momentum Picks: 5 NamesSelection logic: momentum × relative valuation, two factors — 5D/10D/20D all aligned and strong, with Fwd P/E inside the industry's reasonable range (a valuation gate removes the overpriced); ranked by momentum strength × valuation cheapness; revenue/earnings/story are not considered

1ANET Arista NetworksNetworking equipment

5D +16.9%10D +13.0%20D +23.2%Fwd P/E 42.0 reasonableMkt cap $235.4B

Rises to No.1: 5D/10D/20D (16.9/13.0/23.2) aligned, the strongest 5D in the whole list and still accelerating; 7/10 +1.23%, green against the tape (most prior-day leaders gave back); Fwd 42.0 within the networking growth band, the hardest AI-networking fundamentals.

2META Meta PlatformsSocial/AI ads

5D +14.8%10D +23.3%20D +17.2%Fwd P/E 18.4 ★cheapMkt cap $1.70T

Debuts at No.2: 5D/10D/20D (14.8/23.3/17.2) aligned with the strongest 10D in the list; 7/10 +5.97%, weekly +14.8%, Mag7 champion; Fwd only 18.4 at the cheap end of the Mag7 = momentum + valuation both superior.

3AMD AMDCPU/GPU

5D +7.7%10D +4.8%20D +23.3%Fwd P/E 42.0 reasonableMkt cap $909.7B

New entrant: 5D/10D/20D (7.7/4.8/23.3) all turned positive and aligned; 7/10 +2.04%, newly on the 20D list (+23.32); Fwd 42.0 reasonable within the AI-chip growth band, a core axis of the semi comeback.

4DELL DellAI servers

5D +10.3%10D +6.2%20D +17.6%Fwd P/E 20.2 ★cheapMkt cap $281.1B

Stays (4th): 5D/10D/20D (10.3/6.2/17.6) aligned, new on the 5D momentum list; 7/10 -3.39% gave back with prior-day leaders, but Fwd 20.2 stays in the AI-hardware value zone — passes the valuation gate.

5SCHW Charles SchwabBrokerage/Fintech

5D +6.3%10D +15.3%20D +15.5%Fwd P/E 13.8 ★cheapMkt cap $179.3B

Stays (5th): 5D/10D/20D (6.3/15.3/15.5) aligned in a strong staircase; 7/10 +0.65% another green day; Fwd only 13.8, the cheapest end of the entire list, with the broker/i-bank earnings season from 7/14 as a tailwind.

* These "momentum picks" use a momentum + relative-valuation two-factor ranking: the universe is the top 200 by market cap, requiring 5D/10D/20D all positive and aligned, with each industry's reasonable Fwd P/E range as a valuation gate.7/10 reshuffle: ANET rises to No.1 (5D +16.9, strongest in the list), META debuts at No.2 (10D +23.3 strongest + Fwd 18.4 cheap), AMD debuts at No.3 (20D +23.3, back to three-window alignment); DELL / SCHW stay.HOOD drops out (5D turned negative at -0.7, windows misaligned; the former No.1 exits after seven straight days on the list), ASX falls to standby (5D +1.9, momentum fading); NET (Fwd 170) / CRWD (Fwd 119.9) / DDOG (Fwd 89.4) removed by the valuation gate, with MELI / FTNT / ITUB on standby. All % are Yahoo 7/10 closing actuals (cross-checked with Futu); Fwd P/E is Yahoo's same-day value. High-momentum names pull back fast — always set stops and position limits. For reference only, not investment advice.

📋 Full ListTop 200 by market cap · 20D gain > 20% · sorted by 20D

Semis · Memory/CPUSemis · Logic/ASIC/EquipmentSoftware/CybersecurityNon-tech |Green= up on 7/10Red= down on 7/10 |Rank / on list:▲▼= compared with the prior trading day's (7/9 close) rank,★New= new on the list this period,+N= consecutive trading days on the list (incl. 7/10)

Ticker / Name

Price

Gain (20D)

1D (7/10)

20D

YTD

Fwd P/E

Net income ($100M)

Mkt cap ($100M)

Rank / on list

HOOD RobinhoodBrokerage/Fintech

111.97

-2.73%

-0.67%

+29.65%

-2.81%

37.8

19 as of 3/31

1,008

—+7

GEV GE VernovaAI power equipment

1,091.57

+1.52%

-1.94%

+25.89%

+60.63%

44.7

94 as of 3/31

2,933

★New+1

ASX ASE TechnologySemis OSAT

42.66

-1.36%

+1.89%

+24.37%

+153.02%

21.4

15* as of 3/31

936

—+2

PANW Palo AltoCybersecurity

325.91

-3.67%

-6.36%

+23.82%

+81.70%

79.1

8 as of 4/30

2,656

▼2+6

AMD AMDCPU/GPU

557.89

+2.04%

+7.74%

+23.32%

+149.65%

42.0

49 as of 3/28

9,097

★New+1

ANET AristaNetworking equipment

186.96

+1.23%

+16.86%

+23.19%

+39.94%

42.0

37 as of 3/31

2,354

▼1+2

NET CloudflareCloud/CDN

268.40

-2.68%

+10.72%

+22.18%

+36.92%

170.0

-1 as of 3/31

953

★New+1

AMAT Applied MaterialsSemi equipment

602.50

+2.35%

-0.09%

+21.22%

+124.09%

36.5

85 as of 4/26

4,784

★New+1

*The 20D > 20% main list expanded again from 5 to 8 names: HOOD (+29.65) tops the list a seventh straight day (though 7/10 -2.73% gave back, 20D narrowing from +37.4); GEV (+25.89) / AMD (+23.32) / NET (+22.18) / AMAT (+21.22) are the four new entrants — AI power (GEV), CPU/GPU (AMD), cloud (NET) and equipment (AMAT) 20D momentum cleared the bar; CRWD drops off (7/10 -5.66% slump, 20D down to +15.6). A still-expanding list = 20D momentum breadth keeps thickening, but constituent rotation is speeding up.Net income= trailing-four-quarter (TTM) total, in $100M; "as of M/D" is the latest fiscal-quarter end, updated after the next report;*NET net income TTM ~-$100M (near breakeven);ASX net income originally in NTD, converted to USD at ~32.5 (marked "*").

📋 Full List (5D momentum)Top 200 by market cap · 5D gain > 10% · sorted by 5D

Ticker / Name

Price

Gain (5D)

20D

1D (7/10)

YTD

Fwd P/E

Net income ($100M)

Mkt cap ($100M)

Rank / on list

ANET AristaNetworking equipment

186.96

+16.86%

+23.19%

+1.23%

+39.94%

42.0

37 as of 3/31

2,354

▲2+2

BABA AlibabaChina e-commerce/cloud

112.33

+16.84%

-2.64%

+1.07%

-27.87%

12.4

147* as of 3/31

2,693

▼1+3

META Meta PlatformsSocial/AI ads

669.21

+14.81%

+17.20%

+5.97%

+2.89%

18.4

706 as of 3/31

16,987

★New+1

STX SeagateHDD storage

910.34

+11.00%

+11.56%

+2.28%

+216.60%

33.0

24 as of 4/3

2,060

★New+1

AVGO BroadcomAI ASIC

399.97

+10.96%

+7.49%

-0.28%

+15.06%

20.6

293 as of 5/3

19,029

★New+1

NET CloudflareCloud/CDN

268.40

+10.72%

+22.18%

-2.68%

+36.92%

170.0

-1 as of 3/31

953

▼4+4

DELL DellAI servers

434.97

+10.31%

+17.61%

-3.39%

+240.35%

20.2

84 as of 5/1

2,811

★New+1

*The 5D momentum list re-expanded from 3 to 7 names (5D > 10%): ANET (+16.86) rises to No.1 (AI networking 5D still accelerating), BABA (+16.84) slips to second; META (+14.81) / STX (+11.00) / AVGO (+10.96) / DELL (+10.31) are the four new entrants — Mag7 champion (META), memory & storage (STX) and AI chips / servers (AVGO / DELL) 5D momentum all cleared the bar, memory / semis return to the 5D list (zero last period) = the comeback's short-term momentum is settling into cycle momentum.Net income= trailing-four-quarter (TTM) total, in $100M ("as of M/D" is the latest fiscal-quarter end); updated after the next report;*NET net income TTM ~-$100M (near breakeven);BABA net income originally in RMB, converted to USD at ~7.2 (marked "*").

🤖 AI Sub-sector BreakdownAfter 7/10 close · 20D averages

🛡 AI cybersecurity20D +17.6%

PANW +23.8, CRWD +15.6, FTNT +13.4. Still the 20D champion, but all three slumped on the day (CRWD -5.66% / FTNT -3.80% / PANW -3.67%) = the group that caught up most aggressively last leg was first in line for profit-taking; CRWD dropped off the 20D list.

🖥 AI servers/comms20D +15.2%

ANET +23.2, DELL +17.6, GLW +13.5, APH +6.6. Divergence on the day: ANET +1.23% stayed green against the tape vs DELL -3.39% / APH -1.96% / GLW -0.77% giving back = internal rotation within the prior day's AI-hardware surge; 20D rises to second strongest.

💾 Memory / HDD20D +11.9%

WDC +18.9, SNDK +16.6, STX +11.6, MU +9.8, INTC +2.6. Divergence on SK hynix's listing day: SNDK +3.10% / STX +2.28% / WDC +0.78% benefited vs MU -1.24% / INTC -2.40% hit by rotation = the group's 20D is now fully positive; SKHY joins the watch list from Monday.

🔧 Semi equipment20D +10.5%

AMAT +21.2, LRCX +8.9, KLAC +8.4, ASML +3.6. Split on the day (AMAT +2.35% / KLAC +0.87% vs LRCX -0.80% / ASML -0.38%); AMAT newly on the 20D list; SK hynix's $26.5B into capacity + EUV = the long-order equipment narrative strengthens.

🧠 Logic / ASIC / networking20D +8.6%

ANET +23.2, TXN +10.4, AVGO +7.5, MRVL -6.6. On the day NVDA +4.03% / CSCO +2.54% / TXN +0.95% led support vs MRVL -3.07% still weak; AVGO 5D +10.96 newly on the 5D list = ASIC momentum warming back up.

☁️ Software / AI cloud20D -1.5%

DDOG +13.1, SNOW +9.0, APP +2.8, NOW +1.6, PLTR -2.6, CRM -4.5, ORCL -30.1. Still the weakest sub-sector, broadly lower on the day (DDOG -4.26% / APP -2.58% / SNOW -2.26% / PLTR -1.74%); only META (classified under social/ads) stood out = software money being siphoned by META.

📈 Breadth SnapshotTop 200 by market cap · 7/10 advancers/decliners

Advancers

116

~58.0% (top-200 single names, ETFs excluded)

Decliners

~41.5%; concentrated in cybersecurity / AI software / prior-day leaders

Ratio / unchanged

1.40 : 1

1 unchanged; cooled from 132:68, still bullish

*7/10 breadth cooled but stayed bullish: 116 advancers vs 83 decliners (1.40:1), narrowing from yesterday's 132:68 — the indexes were held up by the META / NVDA duo + the SK hynix effect, while internally cybersecurity / AI software / prior-day leaders (DELL / HOOD / NET) took profits = normal turnover after two days of broad advance; the bullish structure is intact but short-term crowding is starting to release. Next week's 7/14 CPI + bank earnings decide whether the push continues.

🔁 7/9 → 7/10 Change Tracker

Stock	7/9 close (derived)	7/10 close	7/10 chg	What changed
SKHYVSK hynix	$149.00 (IPO price)	$168.01	+12.76%	Largest foreign-company U.S. IPO in history (raised $26.5B); big debut gain; ticker changes to SKHY on Monday
META	$631.51	$669.21	+5.97%	Weekly +14.8%, Mag7 champion; improving-AI-cost narrative; new on the 5D list + momentum picks
NVDANvidia	$202.79	$210.96	+4.03%	Mega-cap semis held up the S&P; market cap back to $5.11T; SK hynix listing = HBM supply-chain linkage
SNDKSanDisk	$1,858.31	$1,915.92	+3.10%	Memory comeback, three straight green days, 5D +9.8%; SK hynix's "shortage beyond 2030" reinforces the NAND narrative
AMATApplied Materials	$588.67	$602.50	+2.35%	SK hynix's $26.5B into capacity + EUV = long-order equipment theme; newly on the 20D list
MUMicron	$991.60	$979.30	-1.24%	Hardest hit by the SK hynix listing: capital rotation + direct comps; fell back below $1,000
HOODRobinhood	$115.11	$111.97	-2.73%	Gave back after seven straight days atop the 20D list; 5D turned negative; dropped from momentum picks (former No.1 exits)
DELLDell	$450.23	$434.97	-3.39%	Profit-taking after leading the prior-day bounce +4.22%; 5D +10.3% still newly on the 5D list; stays in momentum picks
PANW Palo Alto	$338.33	$325.91	-3.67%	All three cybersecurity names fell (FTNT -3.80% / CRWD -5.66%): last leg's catch-up champions took concentrated profit-taking
DDOG Datadog	$269.00	$257.54	-4.26%	AI software gave back (SNOW -2.26% / APP -2.58% also weak); software money siphoned by META
SPCX SpaceX	$152.16	$145.30	-4.51%	Falling since joining the Nasdaq 100, 5D -10.3%; new-listing buzz stolen by the SK hynix IPO
CRWD CrowdStrike	$198.41	$187.18	-5.66%	Top decliner of the day: 20D down to +15.6, dropped off the 20D list (newly added just yesterday — one-day round trip)

*The 7/9→7/10 axis: "SK hynix listing reshapes the memory landscape + cybersecurity / software profit-taking": the largest foreign IPO in history debuted +12.76%; memory diverged (SNDK / STX / WDC benefited vs MU hit by rotation); META weekly +14.8% topped the Mag7 and NVDA +4.03% held the index; conversely last leg's cybersecurity catch-ups (CRWD / PANW / FTNT) and prior-day leaders (DELL / HOOD / NET / SPCX) gave back in concentration, breadth cooling from 132:68 to 116:83. Derived prior close = 7/10 close ÷ (1 + 7/10 %chg); SKHYV benchmarked to its $149 IPO price.

📝 SummaryCore conclusions after the 7/10 close

① Market structure: all three major indexes green a second straight day, weekly closes higher — S&P +0.42% to 7,575.39, again nearing record highs, Nasdaq +0.29% to 26,281.61, Dow +0.29% to 52,637.01; VIX fell another 5.11% to 15.03, VXN -7.51% to 24.89. But breadth cooled from 132:68 to 116:83, and IWM -0.42% saw small/mid caps give back first = an "internal rotation day" with the indexes held up by META / NVDA; the bullish structure is intact while short-term crowding starts to release.

② Theme 1: SK hynix's record foreign IPO reshapes memory in a day: SKHYV +12.76% on debut, closing $168.01 (priced 149, raised $26.5B surpassing BABA 2014, 7x oversubscribed); CEO Kwak Noh-jung's "memory shortage beyond 2030" + proceeds into capacity / EUV. The group diverged — SNDK +3.10% / STX +2.28% / WDC +0.78%beneficiaries vs MU -1.24%the hardest-hit: U.S. memory money finally has an HBM-leader alternative; the MU (Fwd 6.5) vs SKHY valuation comp becomes the new axis.

③ Theme 2: META up 14.8% for the week, Mag7 champion: META +5.97% to $669.21, best week since early 2024 — BofA keeps its Buy; an internal memo hints at an improving AI cost structure = a profit counterexample amid "AI capex too high" worries; tech insider buying set a six-month record. With the market's strongest 10D at +23.3% + Fwd 18.4 at the cheap end, META parachutes straight into the No.2 momentum pick.

④ Theme 3: concentrated profit-taking in cybersecurity / AI software / prior-day leaders: CRWD -5.66% / DDOG -4.26% / FTNT -3.80% / PANW -3.67% / DELL -3.39% / HOOD -2.73% / NET -2.68% — last leg's most aggressive catch-up group, cybersecurity (20D +17.6, still the champion), and prior-day surgers gave back together; Apple suing OpenAI over AI hardware secrets adds a legal front to the AI talent war. Software / AI cloud (20D -1.5%) keeps anchoring the bottom, its money siphoned by META.

⑤ List changes: 20D main list 5 → 8 names (HOOD tops a seventh day; GEV / AMD / NET / AMAT four new entrants, CRWD out after one day) = 20D momentum breadth keeps growing with faster rotation. 5D list 3 → 7 names (ANET rises to No.1; META / STX / AVGO / DELL four new entrants) = memory / semis return to the 5D list. Momentum picks reshuffled: ANET to No.1, META / AMD newly in, DELL / SCHW stay; HOOD out (5D negative), ASX to standby; NET / CRWD / DDOG removed by the valuation gate.

⑥ Conclusion & next week's playbook: a smooth SK hynix listing + META's profit narrative + VIX 15.03 = the risk-on structure continues, but cooling breadth + cybersecurity/software give-backs flag short-term crowding. Three keys next week: (1) 7/14 (Tue) June CPI + JPM / WFC / Citi season openers = dual verification of inflation and Q2 earnings, volatility easily amplified; (2) 7/16 (Thu) TSMC + Netflix = the final word on the AI-capex narrative — the memory/equipment comeback lives or dies here; (3) SKHY's official Monday debut and the ensuing memory comps (MU Fwd 6.5 vs SKHY). Tactically: the momentum axis shifts to AI networking / Mag7 catch-up (ANET / META) + cheap AI hardware (DELL / AMD); hold memory longs but avoid chasing, keep positions light into CPI, and always set stops on high-momentum names.

Sources: Yahoo Finance (top-200 screen + chart-derived 1D/5D/10D/20D; indexes / ETFs / risk gauges / Fwd P/E / net income; cross-checked with Futu Top 200 page-1), CNN Fear & Greed Index (live reading 49), CNBC / The Motley Fool / Quartz / TechCrunch / Bloomberg (SK hynix IPO, META's week, Apple v. OpenAI, earnings calendar).
This report is for reference only and does not constitute investment advice. All percentages are Yahoo / Futu actuals; P/E are non-real-time estimates; BABA net income in RMB and ASX in NTD converted to approximate USD; SKHYV market cap is an ADR-derived approximation.
DAILY US EQUITY · 2026-07-10 (U.S. close 7/10)

Want all three markets? Upgrade to All Markets — save up to US$7.98/mo →

想一次掌握三市？升級「全市場組合」每月最多省 US$7.98 →

Like this free sample? Get the full report every trading day.

喜歡這篇免費樣本？每個交易日都收到完整報告

🎁 Start your 3-day free trial · 開始免費試用 →

Cancel anytime, no commitment · 隨時取消，無需綁約

📚 More free sample reports

更多免費樣本，無需註冊

美股·中文 US (中文)台股 · TW A股 · A-Share

See all plans · 看方案 →