The three major U.S. stock indices opened higher as bargain hunting flowed into the market, led by semiconductor stocks.

As of 10:51 a.m. (local time) on July 21, the Dow Jones Industrial Average was at 51,954.98, up 115.72 points (0.22%) from the previous session at the New York Stock Exchange.

The S&P 500 index rose 26.75 points (0.36%) to 7,470.03, and the Nasdaq Composite index climbed 181.33 points (0.71%) to 25,689.40.

The market showed strength as buying interest, particularly in semiconductor stocks, increased.

Micron Technology and Intel rose 8.18% and 5.86%, respectively, while Marvell Technology also gained 5.53%.

The Philadelphia Semiconductor Index also rose 3.66%.

Market participants are closely watching the earnings reports of Alphabet and Intel scheduled for this week.

On the other hand, reports that U.S. President Donald Trump will impose tariffs on dozens of countries later this week limited the upside of the stock market.

This is a measure to replace the 10% global tariff that was implemented after the Liberation Day announcement in April 2025, which is set to expire on July 24 after the Supreme Court invalidated the reciprocal tariffs earlier this year.

Additionally, the fact that Yemen's Houthi rebels announced a blockade of the sea against Saudi Arabia the previous day, followed by a statement on this day prohibiting the loading and unloading of ship cargo at all Saudi ports, also weighed on the market.

Art Hogan, chief market strategist at B. Riley Wealth, explained, "Investors have to weigh strong earnings against the ongoing war with Iran," adding, "To end this tug-of-war, we need statements from hyperscalers like Alphabet reaffirming that they will maintain their capital expenditure plans, which is highly likely to form a support level for semiconductor stocks."

By sector, technology and energy showed strength, while consumer staples and utilities were weak.

3M, famous for Scotch tape and Post-it notes, saw its stock price rise 9.33% as both its second-quarter earnings and earnings guidance exceeded expectations.

The stock price of AI cloud company Nebius Group rose 7.97%.

This was influenced by Nvidia's disclosure that it holds a 9.3% stake in Nebius Group.

General Motors (GM) saw its stock price rise 3.44% on the back of its second-quarter earnings.

GM's second-quarter earnings per share (EPS) and revenue were $3.57 and $48.03 billion, respectively, both exceeding market expectations of $3.20 and $47.01 billion.

European stock markets also generally showed strength.

The Euro Stoxx 50 index is trading at 6,242.07, up 0.24% from the previous session.

The U.K.'s FTSE 100 index and Germany's DAX index rose 0.24% and 0.12%, respectively, while France's CAC 40 index fell 0.11%.

International oil prices showed an upward trend.

At the same time, the price of West Texas Intermediate (WTI) for August 2026 delivery, the near-month contract, is at $85.24 per barrel, up 2.41% from the previous session.