Key points
- Chip and memory stocks are bouncing hard on Hyperliquid's 24/7 stock perpetuals. Western Digital (WDC), SanDisk (SNDK) and Micron (MU) are each up more than 6% from Thursday's 4pm ET close.
- This snapshot was pulled around 3:30pm ET Sunday, hours before the real overnight futures session reopens at 8pm ET. It is not the actual reopening price, just an early read that could turn out close, or could not.
- Hyperliquid's own S&P 500 and Nasdaq-100 perpetuals are both up about 0.2%, with a semiconductor-sector proxy up 0.72%, pointing to a calm, mildly positive setup.
- SK Hynix, Samsung and Kioxia are trading higher on Hyperliquid too, part of the same memory-chip recovery story we have been covering all week.
Here is where things stand a few hours before the real overnight session opens. Real markets have been closed since Thursday's 4pm close, but a wide swath of chip and AI names are already trading solidly green on Hyperliquid, the crypto exchange that runs 24/7 stock perpetuals through a platform called Trade[XYZ]. We have covered this venue's holiday tape before, along with how the whole setup works and what a typical weekend read looks like. The short version: these are derivative contracts settled in USDC, a dollar stablecoin, tracking a stock's price rather than the stock itself. Hyperliquid even holds an official S&P Dow Jones Indices license for its S&P 500 contract, so this is not some fly-by-night knockoff, just thin and speculative compared to the real market.
The broad read: calm and modestly higher
Hyperliquid's own index-style perpetuals are a decent stand-in for market-wide futures, since the real S&P and Nasdaq futures on the CME do not reopen until Sunday evening. As of this snapshot, the S&P 500 perpetual is up about 0.20% and the Nasdaq-100 perpetual is up about the same. A semiconductor-sector proxy is up a sharper 0.72%, and the VIX-tracking perpetual is flat. Put together, that is a market leaning calm and mildly optimistic, not one bracing for a rough Monday.
Memory and storage are doing the heavy lifting
The standout story is a broad bounce off Thursday's close, the same names that have been whipsawing all week in the chip and memory trade we covered in our damage report and the Kospi rebound piece. Western Digital (WDC) is up 6.88% from Thursday's $538.99 close. SanDisk (SNDK) is up 6.60%, and Micron (MU) is up 6.18% from its $975.77 close. Right behind them: Nebius (NBIS) up 5.41%, Applied Materials (AMAT) up 5.03%, Marvell (MRVL) up 4.83%, CoreWeave (CRWV) up 4.68%, and ASML up 4.54%.
The bounce extends into the wider AI supply chain: Qualcomm, Lumentum (LITE), AMD, Taiwan Semiconductor (TSM), Nokia, Arm and Intel are all up 3% or more. Megacap names are calmer but still green: Nvidia, Meta, Amazon, Microsoft, Alphabet and Apple are all higher, just by fractions of a percent. Only two names in our tracked list are in the red: ServiceNow (NOW), down a slight 0.16%, and SpaceX's perpetual, off 0.31%.
The memory story goes global
This recovery is not just a US story. On Hyperliquid's broader board, SK Hynix is trading higher too, timely given its own Nasdaq debut targeted for this Friday, alongside Samsung and Kioxia, the other two legs of the global memory chip industry. A DRAM-price-tracking contract on the same venue is up about 1.13%. Chip and memory stocks selling off together and bouncing together has been the pattern all week, and Sunday's tape is not breaking from it.
Why this is not Sunday night's actual reopen
Be clear about what this snapshot is and is not. It was pulled around 3:30pm ET Sunday. The real overnight futures session, where CME index futures and extended-hours stock trading pick back up, does not open until 8pm ET Sunday, hours after this data was taken. Nothing stops sentiment from shifting between now and then, and nothing stops it from shifting again between tonight and Monday's opening bell. This can be a genuinely useful early read on where trader sentiment sits. It has also been noise before. Both things are true, and there is no way to know which one this is until real volume shows up.
Treat this as a representation of the mood heading into the week, not a forecast of where anything opens.
Sources
- Individual stock moves compare Hyperliquid Trade[XYZ] perpetual mark prices, pulled Sunday, July 5, 2026 around 3:30pm ET, against each stock's official close at 4pm ET on Thursday, July 2, 2026.
- Index, sector and commodity-style proxies (S&P 500, Nasdaq-100, semiconductor proxy, VIX, DRAM) use Hyperliquid's own trailing 24-hour change.
This is general market commentary and opinion, not investment advice. Hyperliquid perpetuals are thinly traded derivatives, not the underlying stocks, and this pricing can diverge sharply from where a stock actually opens once real trading resumes. Prices will move. Markets can go down as well as up, and you can lose money. Always do your own research and consider speaking with a licensed financial professional before making any investment decision.
