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Chipmakers Boost Stocks as Oil Declines | Closing Bell

Watch on YouTube ↗  |  July 09, 2026 at 20:39  |  10:32  |  Bloomberg Markets
Speakers
Carol Massar — Anchor, Bloomberg
Lisa Mateo — Reporter, Bloomberg

Summary

US equities rallied broadly, led by tech and semiconductors as AI-related trades gained traction. Hosts highlighted specific AI beneficiaries including optical networking player Lumentum, Micron boosting capex for memory chips, and Meta's plan to monetize AI infrastructure. Oil prices fell and bond yields declined, supporting risk appetite. Earnings updates from Aritzia, PepsiCo, and Costco painted a mixed consumer picture.

  • Major US indices closed higher, with S&P 500 up ~0.8%, Nasdaq up ~1.3%, and Russell 2000 up 1.2%.
  • Semiconductor sector surged over 3%, with AI trade again in focus.
  • Lumentum (LITE) jumped 11% on expectations of optical networking demand for AI data centers.
  • Micron (MU) rose 4.5% after announcing a 50% increase in US plant spending to meet memory chip demand.
  • Meta (META) gained nearly 5% on plans to rent out AI infrastructure and develop a cloud business.
  • Oil declined about 2.5%, while Treasury yields fell across the curve, aiding small caps.
  • Aritzia beat earnings and guided in line; PepsiCo and Costco flagged consumer weakness tied to gas prices.
  • AstraZeneca and Ionis Pharma fell sharply after a key drug trial failure.
Ideas
Carol Massar Anchor, Bloomberg 2:50
Optical networking for AI data centers drives LITE.
Lumentum (LITE) is a direct beneficiary of the AI data center buildout as interconnects shift from copper to optical/photonics, with Meta and others expanding AI infrastructure. The stock is also supported by a 12% short float, creating potential for a squeeze.
LITE MED
Carol Massar Anchor, Bloomberg 3:13
Meta monetizing AI infrastructure lifts stock.
Meta is developing plans to rent out its AI infrastructure and build a cloud business, potentially creating new revenue streams from its massive computing capacity. The stock reacted positively to the news.
META MED
Carol Massar Anchor, Bloomberg 4:26
Micron capex surge signals AI memory demand.
Micron is planning a 50% increase in US plant spending to $250 billion to meet strong demand for its memory chips, signaling robust AI-driven memory demand and future growth.
MU MED
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This Bloomberg Markets video, published July 09, 2026, features Carol Massar discussing LITE, META, MU. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Carol Massar  · Tickers: LITE, META, MU