GoAI Market Wrap - 10th July
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10 กรกฎาคม 2569
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As oil prices pulled back, AI infrastructure plays — memory, optical networking — reclaimed the spotlight, lifting all three major U.S. indices. The S&P 500 rose 0.81% to 7,543.64; the NASDAQ gained 1.30% to 26,206.89; and the Dow Jones edged up 0.27% to 52,487.41. WTI fell 2.33% to $71.81 as geopolitical risk premium eased. SK Hynix ADS begins trading Friday.
Daily Market Brief · Friday, July 10, 2026
U.S. Market Close
DJIA52,487.41▲ 0.27%
S&P 5007,543.64▲ 0.81%
NASDAQ26,206.89▲ 1.30%
GoAI Sentiment Index
Score: 44 — Mild Fear
44 Mild Fear. Oil pulled back as U.S.-Iran tensions stabilized. Tech and memory stocks rebounded sharply; NASDAQ +1.30%. Crypto recovered. Sentiment cautious ahead of Q2 earnings season starting next week.
Key Headlines
MARKETS
NASDAQ Surges Over 1% as Tech Leads Friday Rally
AI
Zuckerberg Publicly Dismisses “Compute Oversupply” Concerns
CHIPS
Micron Raises U.S. Investment Plan to $250B by 2035
Market Analysis
As oil prices pulled back, AI infrastructure plays — memory, optical networking — reclaimed the spotlight, lifting all three major U.S. indices.
At the close, the S&P 500 rose 0.81% to 7,543.64; the NASDAQ gained 1.30% to 26,206.89; and the Dow Jones edged up 0.27% to 52,487.41. Micron rose 4.52%; Berkshire Hathaway-A fell 0.96%.
Memory stocks led the charge: SanDisk +7.59%, Western Digital +5.04%, Seagate +3.50%. Reports emerged that Meta has signed a long-term supply agreement with SanDisk to accelerate AI infrastructure deployment. Optical networking names also surged — Lumentum +11.13%, Applied Optoelectronics +6.79%, Corning +4.54%. AMD jumped over 5% after announcing a partnership with 5C to build next-generation gigawatt-scale AI compute centers.
The session also saw Zuckerberg push back firmly on “compute oversupply” concerns in a media interview, stating Meta is using every unit of available compute and that renting out excess capacity could be more economical than internal use in some cases — a nuanced admission that nonetheless reassured investors.
SK Hynix ADS begins trading Friday. Priced at a rumoured $149 — a rare premium to the Korean listing — the debut is expected to provide a further catalyst for the memory sector. Meanwhile, the U.S.-Iran standoff entered an uneasy equilibrium: explosions were again reported in Iran Thursday, yet equity markets showed little reaction, suggesting investors have largely priced in a contained conflict.
Key Takeaway: WTI fell 2.33% to $71.81 as geopolitical risk premium eased. The AI infrastructure trade is back in focus — memory and optical networking outperformed. SK Hynix’s Nasdaq debut Friday and the start of Q2 earnings season next week are the next major catalysts.
At the close, the S&P 500 rose 0.81% to 7,543.64; the NASDAQ gained 1.30% to 26,206.89; and the Dow Jones edged up 0.27% to 52,487.41. Micron rose 4.52%; Berkshire Hathaway-A fell 0.96%.
Memory stocks led the charge: SanDisk +7.59%, Western Digital +5.04%, Seagate +3.50%. Reports emerged that Meta has signed a long-term supply agreement with SanDisk to accelerate AI infrastructure deployment. Optical networking names also surged — Lumentum +11.13%, Applied Optoelectronics +6.79%, Corning +4.54%. AMD jumped over 5% after announcing a partnership with 5C to build next-generation gigawatt-scale AI compute centers.
The session also saw Zuckerberg push back firmly on “compute oversupply” concerns in a media interview, stating Meta is using every unit of available compute and that renting out excess capacity could be more economical than internal use in some cases — a nuanced admission that nonetheless reassured investors.
SK Hynix ADS begins trading Friday. Priced at a rumoured $149 — a rare premium to the Korean listing — the debut is expected to provide a further catalyst for the memory sector. Meanwhile, the U.S.-Iran standoff entered an uneasy equilibrium: explosions were again reported in Iran Thursday, yet equity markets showed little reaction, suggesting investors have largely priced in a contained conflict.
Key Takeaway: WTI fell 2.33% to $71.81 as geopolitical risk premium eased. The AI infrastructure trade is back in focus — memory and optical networking outperformed. SK Hynix’s Nasdaq debut Friday and the start of Q2 earnings season next week are the next major catalysts.
Key Events
Micron Raises U.S. Investment Plan to $250B by 2035
Micron announced it will invest over $250 billion in the U.S. by 2035 to meet unprecedented AI-driven memory demand — up from the $200B plan announced last June, which itself was already an increase from its original target. Shares rose 4.52% on the day.
OpenAI Launches ChatGPT Work and GPT-5.6 Model Series
OpenAI introduced ChatGPT Work, an AI agent for complex multi-app tasks capable of generating documents, spreadsheets, slides and websites. Simultaneously, it launched the GPT-5.6 Sol, Terra and Luna model series — CEO Sam Altman noted Sol improves agentic coding token efficiency by 54%.
S&P Cuts Oracle to BBB−, One Notch Above Junk
S&P Global downgraded Oracle’s long-term credit rating from BBB to BBB− — the lowest investment-grade tier — citing rising business risk and weakening cash flows tied to its aggressive AI infrastructure buildout.
Commodities
NYMEX WTI Crude▼ 2.33%
ICE Brent Crude▼ 1.80%
Spot Gold▲ 1.43%
Spot Silver▲ 0.50%
LME Copper▲ 1.20%
LME Aluminum▲ 0.85%
LME Nickel▼ 0.30%
LME Zinc▲ 0.60%
Forex
EUR/USD1.1434▲ 0.07%
GBP/USD1.3416▲ 0.12%
USD/JPY162.34▼ 0.09%
USD/CNY6.7792▼ 0.40%
Sector Intelligence
TECHNOLOGY & MATERIALS
XLK (1D)$184.40▲ 1.62%
XLB (1D)$92.30▲ 1.85%
Key Drivers: Technology (XLK +1.62%) surged as memory and optical networking stocks led — Micron +4.52%, SanDisk +7.59%, Lumentum +11.13%. Materials (XLB +1.85%) benefited from gold (+1.43%) and broad metals recovery as oil risk premium eased.
Outlook: AI infrastructure capex remains the dominant tech catalyst. Materials supported by gold’s safe-haven bid and copper demand from data center buildout.
Outlook: AI infrastructure capex remains the dominant tech catalyst. Materials supported by gold’s safe-haven bid and copper demand from data center buildout.
SHIPPING & LOGISTICS
Drewry World Container Index (WCI)$4,639 ▲ 2%
Baltic Dry Index2,910 ▲ 1.36%
Market Dynamics: Drewry WCI rose 2% to $4,639/40ft (week of Jul 9), driven by Asia–Europe and Transpacific rate increases. BDI climbed to 2,910 on Jul 9 (+1.36%), extending its multi-week rally.
Outlook: Hormuz transit volumes dropped sharply (13 tankers/day vs. 33-day average). Tanker rates face further upside; container GRI announcements expected mid-July.
Outlook: Hormuz transit volumes dropped sharply (13 tankers/day vs. 33-day average). Tanker rates face further upside; container GRI announcements expected mid-July.
Institutional Views
Morgan StanleyBULLISH
2027 S&P 500 EPS consensus has risen to ~$400 (from $357 at year-start). Overweight U.S. large-caps and global diversification; big banks and hyperscalers undervalued relative to earnings growth. Fed rate hike remains the key tail risk.
Goldman SachsBULLISH
Year-end S&P 500 target 8,000; 2026 EPS $340 (+24% YoY). AI capex drives ~50% of earnings growth. Q2 season kicks off mid-July — expectations are elevated; misses punished harder than historical norms.
BlackRockCAUTIOUS
AI buildout accelerates scarcity in power, chips and data centers. Favours short-duration income and infrastructure; physical AI (robotics, autonomous manufacturing) is the next frontier. Geopolitical chokepoints now a structural portfolio consideration.
Digital Assets (24h)
Bitcoin (BTC)$63,257.05▲ 1.71%
Ethereum (ETH)$1,747.25▲ 0.44%
XRP$1.09▲ 0.57%
Solana (SOL)$77.98▲ 0.61%
GoAI Performance
Today’s Live P&L
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Positions69 / 69
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Win Rate (42/69)60.9%
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