US stocks close higher as semiconductors lead: Nasdaq +1.52%, AMD hits a record, SanDisk +10.9%
US equities finished higher on Tuesday, June 30, with the gains concentrated in chips and AI infrastructure. The Nasdaq Composite added 1.52% to 26,213.72 and the S&P 500 rose 0.79% to 7,499.36, while the Dow lagged at +0.26% (52,319.20). The 126 basis-point gap between the Nasdaq and the Dow shows where the buying went: the biggest chipmakers and the hardware that powers AI data centers, rather than a broad advance. The Russell 2000 added 0.46% to 3,024.36 and the Cboe Volatility Index fell 6.86% to 16.44.
What moved the index
The S&P 500's 59-point gain came largely from semiconductors and AI hardware. AMD.US rose 7.68% to a record after Wells Fargo lifted its target to $615 from $505 and Morgan Stanley flagged the company's next server-CPU roadmap. KLAC.US (+8.38%), MRVL.US (+7.25%) and INTC.US (+6.01%) extended the chip-equipment and processor advance. SNDK.US, the best-performing S&P 500 stock of 2026, climbed another 10.89% to about $2,274 after Bernstein raised its target to $3,000 from $1,700 on stronger memory pricing.
Working against the index, bond-proxy and defensive groups slipped as the US 10-year Treasury yield rose four basis points to 4.42%. Telecom, data-center REITs and consumer staples all fell, which capped the Dow's gain and kept the S&P 500 behind the Nasdaq's pace.
Top gainers
- SNDK.US (SanDisk) +10.89%, near $2,274. Bernstein raised its target to $3,000 from $1,700; the stock is up roughly 767% in 2026 on AI memory demand.
- BE.US (Bloom Energy) +10.07%, about $303, as data-center builders buy its fuel cells for on-site power, including under an expanded Oracle supply agreement.
- VRT.US (Vertiv) +9.07%, about $335, on demand for data-center power and cooling equipment.
- KLAC.US (KLA) +8.38%, about $302, as chip-equipment names followed the processor rally.
- AMD.US (Advanced Micro Devices) +7.68%, about $581, a record close after the Wells Fargo target raise; the stock is up about 260% in 2026.
Top losers
- DLR.US (Digital Realty) -5.77%. The data-center REIT fell with other rate-sensitive names as the 10-year yield rose to 4.42%.
- T.US (AT&T) -5.13%. Oppenheimer cut the stock to Perform from Outperform and flagged low-earth-orbit satellite broadband as a structural threat, on top of debt and wireless-growth concerns.
- SYK.US (Stryker) -4.50%. The June 30 Russell reconstitution dropped it from the Growth index, which forced index-fund selling, and the stock traded ex-dividend.
- UBER.US (Uber) -4.42%, pressured by competition from autonomous-vehicle robotaxis and questions over its margins.
- CEG.US (Constellation Energy) -4.22%. The nuclear power-for-AI name fell even as fuel-cell peer Bloom Energy rose, and is now down about 26% in 2026.
After-hours earnings
NKE.US (Nike) reported fiscal fourth-quarter results after the close. Revenue was $11.0 billion, down 1% but ahead of the roughly $10.85 billion consensus, and diluted EPS was $0.72. That headline is flattered: $0.52 of the EPS came from a one-time expected recovery of IEEPA tariffs, after the US Supreme Court ruled those tariffs unauthorized in February, and the recovery lifted gross margin about 900 basis points to 49.2%. Strip it out and the quarter was soft, with Greater China revenue down 12% (down 17% currency-neutral) and Nike Direct down 7%, while North America grew.
STZ.US (Constellation Brands) also released fiscal first-quarter results after the bell. Consensus called for EPS near $3.28 on revenue of about $2.4 billion, down roughly 4% from a year earlier, with resilient beer demand set against softer wine and spirits. The stock went into the print down about 35% in 2026. Management hosts its earnings call on July 1 at 8:00am ET.
Next-session catalysts (ET)
- STZ.US (Constellation Brands) holds its first-quarter call at 8:00am ET on July 1, the first detailed read on whether beer volumes are holding up.
- Whether the bid in AMD.US, SNDK.US and KLAC.US carries into July 1, or fades after a one-day jump.
- The US 10-year yield at 4.42% and its continued pressure on telecom, REITs and staples.
Context only. Not financial advice. Track your own trades with Swingfolio.