Market Open: Stocks Mixed, Chips Lag; Trump Wants U.S. Control of Hormuz • 7/13/26

Summary

CNBC's market update covers a mixed Wall Street open with chips under pressure following SK Hynix's record drop in Seoul, amid ongoing Iran tensions and higher oil prices. President Trump suggests US guardianship of the Strait of Hormuz, while Apple sues OpenAI over trade secrets. MGM Resorts rises on buyout speculation, and Disney's live-action Moana underwhelms at the box office.

• Dow rises led by Chevron, while S&P 500 and Nasdaq decline.
• Semiconductor stocks fall as SK Hynix's Seoul-listed shares plunge 15%, dragging on US chip names.
• President Trump proposes US control of Strait of Hormuz and compensation, as US strikes Iran following ship attack.
• US crude oil climbs above $74 per barrel, with gasoline prices rising to $3.87/gallon.
• Apple files lawsuit against OpenAI alleging trade secret theft and employee poaching.
• MGM Resorts shares jump on report of buyout talks with Barry Diller's People Inc.
• Disney's live-action Moana wins box office but falls short of expectations; Universal's The Odyssey set to open.