Micron’s $250bn US plant investment and SK Hynix’s $26.5bn ADR raise fuel semiconductor rally, lifting global equities.
Global equities rose as semiconductor stocks surged, driven by Micron’s plan to boost US plant spending to $250bn by 2035, up $50bn from prior commitments. The Philly semiconductor index jumped 3.06%, its best day in three weeks, with Micron climbing 4.52% and SK Hynix raising $26.5bn in its ADR offering, surpassing Alibaba’s $25bn record.
The S&P 500 gained 0.81%, reversing two days of losses as investors rotated from defensives into growth sectors. Tech hardware, autos, and banks led gains, while staples and household products lagged. Europe’s STOXX 600 also advanced 0.78%, its first rise this week, supported by lower oil prices and tech momentum.