SK Hynix ADR jumps 14% as US markets rally on semiconductor gains

U.S. equity indexes closed higher on August 21, buoyed by a sharp rebound in semiconductor stocks. The Dow Jones Industrial Average rose 385.38 points (0.74%) to 52,224.64, the S&P 500 gained 65.92 points (0.89%) to 7,509.20, and the Nasdaq Composite added 329.13 points (1.29%) to 26,837.21. The Philadelphia Semiconductor Index surged 5.2%, while the semiconductor ETF climbed more than 4%. Micron Technology jumped about 12%, Intel rose roughly 8%, and SK Hynix’s American Depositary Receipts surged 13.8% to $171.93.

Corporate earnings also supported the advance, with 3M up 7.3% after beating sales forecasts and General Motors climbing 4.9% on strong North American sales. Oil prices reached five‑week highs – WTI at $84.91 per barrel and Brent at $91.01 – amid ongoing Middle‑East tensions. Investors now look ahead to upcoming big‑tech results from Alphabet, Tesla, IBM, Texas Instruments and others, which are expected to shape the next wave of AI‑related investment.