Key points
- Wall Street is dark for the July 4th weekend, but tech stocks are trading green right now as 24/7 perpetuals on Hyperliquid.
- Chip and memory names are leading: Micron (MU) is up about 4.9%, with Marvell (MRVL), Nebius (NBIS), Western Digital (WDC), Lumentum (LITE) and ASML all up 4% or more.
- Hyperliquid's own S&P 500 and Nasdaq-100 perpetuals are up 0.29% and 1.07%, and a semiconductor-sector proxy is up 2.19%.
- This is thin, holiday-weekend, derivative pricing. It has been wrong before, and Monday can look completely different.
Here is where things stand as the market sits closed for the July 4th weekend. Real trading does not resume until Monday, but a good chunk of tech is already trading green, on a crypto exchange, as of Friday evening.
This is the kind of thing we watch so you do not have to. We have covered this venue before, how Hyperliquid lets traders bet on stocks 24/7 and what a typical weekend tape looks like. The short version: a platform called Trade[XYZ] runs stock perpetuals, contracts that track a stock's price, on Hyperliquid, a crypto exchange that never closes, settled in USDC, a dollar stablecoin. It holds an official license from S&P Dow Jones Indices for its S&P 500 contract, so this is not some fly-by-night knockoff. It is real enough that regulators recognize it, even if it is thin and speculative. Most readers are never going to open an account on a crypto derivatives exchange just to check this, so we did it for you, and we will keep checking it when it looks like it matters.
The broad read: green, but not by a lot
Hyperliquid's own index-style perpetuals are a decent stand-in for market-wide futures, since the real thing, S&P and Nasdaq futures on the CME, will not reopen until Sunday evening. As of Friday evening, July 3, the S&P 500 perpetual is up about 0.29% and the Nasdaq-100 perpetual is up about 1.07%. A semiconductor-sector proxy is up a sharper 2.19%. The VIX-tracking perpetual, a rough read on fear, is flat. Put together, that is a market leaning calm and mildly optimistic into the long weekend, not one bracing for a shock.
Chips and memory are doing the heavy lifting
The standout story is a bounce in the exact names that got hit hardest in this week's chip selloff, which we covered as it happened in our damage report and the Kospi rebound piece. Micron (MU) is up about 4.9% on the weekend tape. Right behind it: Marvell (MRVL) up 4.83%, Nebius (NBIS) up 4.59%, Western Digital (WDC) up 4.37%, Lumentum (LITE) up 4.31%, and ASML up 4.17%. Micron's real, settled close on Thursday was $975.77, itself down 5.6% that day, so this weekend bounce is a partial retrace of that drop, not a fresh breakout to new highs.
Applied Materials (AMAT) and SanDisk (SNDK) are both up over 3.5% too, and the pattern extends into the broader chip and AI complex: Qualcomm (QCOM), CoreWeave (CRWV), Arm (ARM), Taiwan Semiconductor (TSM), Broadcom (AVGO) and AMD are all green, mostly in the 2 to 3 percent range. The megacaps are calmer. Nvidia, Meta, Microsoft, Apple, Amazon and Alphabet are all up too, just by fractions of a percent rather than multiple points.
Not everything is green. ServiceNow (NOW) is down about 1.45%, and BlackBerry (BB) is down about 1.56%, with SpaceX's Hyperliquid perpetual off a smaller 0.42%. It is a mixed bag with a clear tilt higher, not a straight line up.
Why Monday could look nothing like this
We said it after the IBM (IBM) weekend spike in May, and it is worth repeating here. This is thin, holiday-weekend trading on a derivatives platform, not the real stock market. Volume drops on long weekends, a handful of large orders can move these contracts more than they would move the actual stock, and there is no guarantee the sentiment holds once real volume returns Monday morning. Hyperliquid's weekend tape has been a genuinely useful early read before. It has also been noise before. Both things are true, and you will not know which one this is until Monday's opening bell.
Treat this as a snapshot of where trader sentiment sits heading into the long weekend, not a forecast. We will check back once the real market reopens to see how it held up.
Sources
- Prices and 24-hour changes are Hyperliquid Trade[XYZ] perpetual mark prices, pulled Friday, July 3, 2026, around 5:20pm ET.
- Micron's official settled close is from consolidated exchange data, Thursday, July 2, 2026.
This is general market commentary and opinion, not investment advice. Hyperliquid perpetuals are thinly traded derivatives, not the underlying stocks, and weekend pricing can diverge sharply from where a stock actually opens. 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.
