SpaceX, Micron, Western Digital, Coinbase, Danaher, and More Stocks That Explain Today's Market — Barrons.com

By George Glover and Kit NortonThe artificial-intelligence trade appeared to be back on Tuesday as Wall Street shrugged off fears that a slew of cheap Chinese chatbots would put an end to the chip and memory spending boom. Investors will get big earnings from Alphabet, Tesla, and International Business Machines.Memory names Western Digital and Sandisk rose 12% and 11%, respectively, placing them near the top of the S&P 500.Chips and networking company Marvell added 5.9% and memory-chip maker Micron rose 9.3%. Chip manufacturer Intel gained 6.8%.Applied Materials, Coherent, Corning, KLA Corp., Lam Research, Lumentum, and Seagate were also among the AI stocks making sizable advances on Tuesday.Coinbase Global rose 11%. A critical crypto regulation bill could be nearing the finish line as the White House reportedly agreed to at least some oversight of President Donald Trump's crypto investments. Bitcoin prices also were up 3.8% over the past 24 hours to $66,799, according to CoinDesk.Danaher sank 14%, making it the worst performing S&P 500 component. The life sciences and diagnostics company's softer-than-expected core revenue outlook overshadowed solid second-quarter earnings.SpaceX rose 6.6% to $127.73. The stock is trying to snap a seven-day losing streak. CEO Elon Musk recently took to X to assail short sellers, warning that firms that borrow SpaceX stock and bet on price declines have a low probability of surviving. Most SpaceX stock is held by early investors who are restricted from trading. More stock will become available to trade after SpaceX reports second-quarter numbers on Aug. 4.Novartis advanced 3.1%. The Swiss pharmaceutical company returned to sales growth in the second quarter due to increased demand for some of its best-selling drugs.General Motors added 3.9% after the auto maker reported better-than-expected second-quarter earnings and raised its full-year guidance.Write to George Glover at [email protected] and Kit Norton at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.