The Informal US-Iran Ceasefire Falls Apart, International Oil Prices Soar, US Stocks Close Mixed, Tech Sector Rebounds After Earlier Losses

BlockBeats News, July 29th, according to BIT (bit.com) market data, the three major U.S. stock indexes closed mixed. The Dow rose by 1.03%, the S&P 500 rose by 0.22%, and the Nasdaq fell by 0.22%. The optical communication and storage sectors experienced a significant decline, with Micron falling by over 14%, Corning dropping by over 12%, Coherent sliding by over 10%, and SK Hynix ADR down by 9%. The Philadelphia Semiconductor Index closed down 519.198 points, a decrease of 4.49%, ending at 11035.68 points, breaking below a key support level.

SK Hynix reported lower-than-expected earnings, with second-quarter revenue at 79 trillion Korean won compared to the market expectation of 84 trillion Korean won. Seagate Technology announced its fourth-quarter results, with revenue at $3.63 billion, higher than the market expectation of $3.49 billion; adjusted earnings per share (EPS) were $5.71, surpassing the market expectation of $5.08.

The U.S. stock storage sector has turned higher in after-hours trading following a sharp decline, with SK Hynix's U.S. stock rising by 2.64% after hours.

Meanwhile, the unofficial ceasefire between the U.S. and Iran has collapsed, with Iran launching missiles at a U.S. military base this morning. According to Bitget market data, WTI crude oil subsequently surged by 4%.