US Stocks Rebound Across the Board, Nasdaq Rises Over 2% with Semiconductor Sector Leading the Gains, Major storage stocks such as Micron, Western Digital, and SanDisk all surge over 10%

July 30th, according to BIT (bit.com) market data, the U.S. stock market staged a strong rally, with the semiconductor storage sector leading the gains. The Nasdaq surged over 2%, the Dow rose by 0.48%, and the S&P 500 jumped over 1%. The Philadelphia Semiconductor Index surged over 6%, poised to achieve the largest single-day gain in a month.

All major storage stocks saw gains of over 10%. Micron Technology rose by 10.44%, SK Hynix rose by 10.02%, SanDisk rose by 17.24%, Western Digital rose by 14.33%, Seagate Technology rose by 16.38%, and Kioxia ADR rose by 10.95%.

Microsoft's gains expanded to over 15%, on track to achieve the largest single-day gain since March 2020. After the U.S. market closed on Wednesday, Microsoft announced its Q4 FY2026 financial report, with revenue of $90 billion, an 18% year-over-year growth. The growth rate of Azure and other cloud services increased from 40% in the previous quarter to 43%.

ARM's gains briefly expanded to 19%, after initially falling by nearly 8% in pre-market trading, marking the largest single-day gain since March 25th. The Q1 FY2027 financial report showed total revenue of $1.289 billion, a 22% year-over-year growth, setting a new first-quarter record.