Tech Rebounds After Last Week's Rout
US stocks were mixed as a rebound in heavyweight AI infrastructure stocks offset muted movement in broader sectors. Tech gains lifted the S&P 500 by 0.5% and the Nasdaq 100 by 1.2%, while the Dow inched below the flatline. The advance contrasted with tech weakness last week, when underwhelming financial results from Anthropic and signs of debt stress among cloud providers, especially CoreWeave, dented demand for speculative positions in the sector. Dip buyers lifted AMD, Micron, Lam Research, and SanDisk by around 5% each. Also, CoreWeave rebounded to an 8% gain. The credit stress in the sector had also softened concerns that the US Treasury would be further crowded out of capital by primary dealers, lowering longer-term yields. Banks were muted following their earnings week, while Meta and Tesla inched down ahead of their earnings results this week.
US stocks were mixed as a rebound in heavyweight AI infrastructure stocks offset muted movement in broader sectors. Tech gains lifted the S&P 500 by 0.5% and the Nasdaq 100 by 1.2%, while the Dow inched below the flatline. The advance contrasted with tech weakness last week, when underwhelming financial results from Anthropic and signs of debt stress among cloud providers, especially CoreWeave, dented demand for speculative positions in the sector. Dip buyers lifted AMD, Micron, Lam Research, and SanDisk by around 5% each.
Also, CoreWeave rebounded to an 8% gain. The credit stress in the sector had also softened concerns that the US Treasury would be further crowded out of capital by primary dealers, lowering longer-term yields. Banks were muted following their earnings week, while Meta and Tesla inched down ahead of their earnings results this week.