US stock markets rise led by tech memory and optical sector gains

All three major US stock indexes closed higher on October 27, according to BigGo Finance, Yahoo Finance, and Futu Niu Niu. BigGo Finance reported that the Nasdaq Composite had the strongest performance, rising 1.18 per cent, while the S&P 500 gained 0.6 per cent and the Dow Jones Industrial Average edged up 0.03 per cent. [1][2][3][4][7]

BigGo Finance reported that the memory and optical communications sectors extended their strength and drove the broader market higher. Individual memory supply chain companies recorded broad gains, with Western Digital rising more than 6 per cent, while SanDisk and Seagate Technology each gained over 3 per cent. BigGo Finance and Futu Niu Niu both reported that optical communications company Lumentum traded higher, with Futu Niu Niu noting a gain of over 8 per cent. [1][7]

TradingNEWS reported that Advanced Micro Devices stock jumped 5.5 per cent to $560.68 as its Helios platform ran at Meta. Yahoo Finance noted that technology led sector charts ahead of major hyperscaler earnings reports. Futu Niu Niu added that optimism in artificial intelligence was boosted by an initial public offering from Anthropic, lifting chip indexes nearly 3 per cent. [4][5][7]

Free-space optical communication uses light to transmit data wirelessly over long distances through air, space, or vacuum without relying on physical optical fiber cables. As FTMQ Tech reported earlier, market benchmarks had previously seen mixed results on October 13 when a drop in major technology shares weighed down the Nasdaq. [9][11]