[Chart courtesy of MarketWatch.com] The Dow pulled back from record highs early on as traders once again rotated out of AI-related stocks and grappled with rising oil prices and higher bond yields. The selling pressure was especially noticeable in the semiconductor space. Micron dropped 7%, while KLA, Marvell Technology, Broadcom, and AMD also moved lower. The VanEck Semiconductor ETF (SMH) …
Stocks Keep Climbing Despite Semiconductor Slowdown
[Chart courtesy of MarketWatch.com] The S&P 500 and Nasdaq kept their positive momentum going early in the week, building on the strong gains posted during the previous week as technology stocks continued to attract buyers. Interestingly, those advances came even as semiconductor stocks—the market’s leadership group for much of the year—remained under pressure. Traders continued to trim positions in chipmakers …
Chip Stocks Cool Off As Markets Drift Lower Ahead Of The Holiday
[Chart courtesy of MarketWatch.com] Semiconductor stocks took a breather today, putting early pressure on the Nasdaq after an exceptionally strong first half of the year. Micron slid 6% and Sandisk dropped 8%, although both remain sharply higher for the year. Nvidia and Broadcom also finished lower, down roughly 2% and 1%, respectively. The weakness appeared to be driven largely by …
Stocks Finish Strong Despite Growing Rate Concerns
[Chart courtesy of MarketWatch.com] Stocks moved higher today, led by a strong rally in chipmakers, as Wall Street closed out a solid first half of the year and an impressive second quarter. It’s been anything but a smooth ride. The major indexes pushed to new all-time highs, but not without plenty of turbulence along the way. Traders had to navigate …
Dip Buyers Keep Control As Markets Shake Off Geopolitical Jitters
[Chart courtesy of MarketWatch.com] Stocks moved higher early in the session as investors reacted positively to a temporary easing of tensions between the U.S. and Iran. However, gains were limited by notable weakness in semiconductor stocks, particularly among artificial intelligence-related names. Chipmakers came under heavy selling pressure, led by Micron, which tumbled nearly 8% to its lowest level in about …
A Split Market: Dow Hits Highs While Tech Names Take A Breather
[Chart courtesy of MarketWatch.com] Thursday’s session had a bit of a split personality. The Nasdaq slid lower despite a monster earnings report from Micron (+14%), as traders rotated out of some of the big-name tech winners. Meanwhile, the Dow held up much better, even pushing to a new intraday all-time high thanks to strength in non-AI stocks. Big Tech was …