US Stock Market Key News Summary August 1, 2026

Micron (MU-US) shares fell on Friday (July 31), despite Apple (AAPL-US) and Amazon (AMZN-US) earnings reaffirming strong memory demand driven by artificial intelligence (AI). Investor optimism was dampened by concerns over potentially higher interest rates. Micron's stock had surged 18% on Thursday, opened higher on Friday, but later turned negative, closing down 5.9% at $823.03 per share.

SpaceX (SPCX-US) shares dropped to a new all-time low on Friday (July 31), falling approximately 20% below its IPO price from six weeks prior. Surprisingly, the stock had rocketed on its first trading day but quickly gave back those gains. SpaceX closed down 3.4% at $108.37, with an intraday low of $107.01. On the same day, the S&P 500 and Dow Jones Industrial Average rose 0.7% and 0.5%, respectively.

SK Hynix’s stock surged 30% in South Korea on Friday (July 31), rising alongside the Kospi index, indicating renewed capital inflow into AI-related stocks. However, this strong buying momentum did not carry over to the U.S. market. The company’s Seoul-listed shares jumped to 1.718 million Korean won per share (approximately $1,197), hitting South Korea’s daily trading limit. In contrast, its American Depositary Receipts (ADR) (SKHY-US) closed down 3.6% at $143.69 per share.

Apple (AAPL-US) reported highlights in its June quarter earnings, including record iPhone sales and progress on Apple Intelligence. However, one of the most notable comments came during the earnings call Q&A session, when CEO Tim Cook described surging memory prices as a 'once-in-a-century flood' and suggested the DRAM industry needs more suppliers.

Shipping volume through the Strait of Hormuz hit a new low on Friday (July 31). President Trump stated that resolving the conflict and restoring normal operations to the nearly paralyzed critical waterway could take several more weeks. When asked about U.S. actions to weaken Iran’s ability to disrupt shipping in the Strait of Hormuz, Trump offered no clear answer: 'It’s hard to say; most people might have already given up.' He also acknowledged that Iran still retains some attack capabilities.