US stocks opened mixed on July 13 (local time) as the Dow Jones Industrial Average rose 0.18% to 52,733.86, while the S&P 500 fell 0.20% to 7,560.45 and the Nasdaq Composite dropped 0.71% to 26,094.43 at 9:37 AM on the New York Stock Exchange. The mixed performance followed renewed military conflict between the US and Iran, which weakened investor sentiment. According to Iranian state TV, Iran attacked multiple southern regions including areas west of Bandar Abbas, Qeshm, Jask, Bushehr Province, and Khuzestan Province, while the Islamic Revolutionary Guard Corps (IRGC) Navy stated the Hormuz Strait remains closed under Article 5 of a US-Iran memorandum of understanding (MOU). Market participants are balancing corporate earnings strength against escalating geopolitical risks in the Gulf region.
Iran Attacks Multiple Southern Regions and Closes Hormuz Strait
Iranian state TV reported that Iran attacked multiple southern regions on July 13 (local time), including areas west of Bandar Abbas — the largest port city in southern Iran at the gateway to the Hormuz Strait — as well as Qeshm, Jask, Bushehr Province, and Khuzestan Province. Iran launched large-scale retaliatory strikes targeting Gulf states hosting US military bases. The IRGC Navy issued a statement referencing Article 5 of a US-Iran MOU and declared "the Hormuz Strait remains closed." US President Donald Trump told Fox News on July 13 (local time), "We will protect that place (the Hormuz Strait) and we will be paid for protecting it," emphasizing "we will receive a lot of money." Iranian Foreign Ministry spokesman Esmail Baghaei mentioned that mediating countries continue mediation efforts between Iran and the US, including in recent days, leaving open the possibility of a diplomatic resolution that limited downside pressure on stocks.
Semiconductor Stocks Decline Led by SK Hynix ADR Drop
Semiconductor stocks showed broad weakness on July 13 (local time). SK Hynix American Depositary Receipts (ADR) fell 8.10% despite successfully listing on Nasdaq last week. Micron Technology declined 6.79%, while SanDisk dropped 9.28% and Seagate Technology fell 6.01%. Alex Juliano, Chief Investment Officer at Rizonante Wealth Partners, stated, "The escalating US-Iran conflict is testing whether the broad stock market rally can be sustained," adding "the market will need to balance the positive factor of strong corporate earnings against the negative factor of geopolitical risk." Juliano further explained, "However, the stronger-than-expected demand for US equity IPOs suggests the memory semiconductor rally may be taking a brief pause rather than reaching a peak."
Energy Stocks Gain on Rising Oil Prices
Energy and consumer staples sectors gained on July 13 (local time), while technology and industrials weakened. Software company CCC Intelligent Solutions rose 4.22% following reports that activist investor Elliott Investment Management acquired a large stake in the company. Deckers Outdoor Group climbed 3.88% after Jefferies upgraded its investment rating to Buy, explaining that Deckers Outdoor stock has additional upside potential due to product innovation from sportswear brand Hoka. Energy stocks gained as oil prices rose amid the US-Iran military conflict. Valero Energy increased 3.90% and APA Corporation rose 3.56%. WTI crude oil futures for August delivery gained 3.19% to $73.69 per barrel at the same time.
European Markets Show Mixed Performance
European stock markets displayed mixed performance on July 13 (local time). The EuroStoxx50 index traded at 6,269.13, down 0.01% from the previous session. Germany's DAX index and France's CAC40 index rose 0.06% and 0.03% respectively, while the UK's FTSE100 index fell 0.18%.
FAQ
Q: How did US stocks perform on July 13 (local time)?
A: US stocks opened mixed on July 13 (local time) with the Dow Jones Industrial Average rising 0.18% to 52,733.86, while the S&P 500 fell 0.20% to 7,560.45 and the Nasdaq Composite dropped 0.71% to 26,094.43 at 9:37 AM on the New York Stock Exchange.
Q: Why did semiconductor stocks decline on July 13 (local time)?
A: Semiconductor stocks showed broad weakness on July 13 (local time), with SK Hynix ADR falling 8.10%, Micron Technology declining 6.79%, SanDisk dropping 9.28%, and Seagate Technology falling 6.01% amid the US-Iran military conflict that weakened investor sentiment.
Q: What did Iran announce regarding the Hormuz Strait on July 13 (local time)?
A: The Islamic Revolutionary Guard Corps (IRGC) Navy issued a statement on July 13 (local time) referencing Article 5 of a US-Iran memorandum of understanding (MOU) and declared "the Hormuz Strait remains closed" following Iran's attacks on multiple southern regions and retaliatory strikes targeting Gulf states hosting US military bases.
