Update: Chipmakers Help Lift Nasdaq, S&P 500 in Midday Trading
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equity indexes traded mixed as chipmakers helped fuel gains in the S&P 500 and the Nasdaq Composite after midday Monday. The Dow Jones Industrial Average, home mostly to old-economy stocks, bucked the upward trend, remaining 0.1% lower at 52,850.1. The Nasdaq jumped 1.1% to 26,106.2, and the S&P 500 climbed 0.6% to 7,527.5. Technology was the standout gainer. Among stocks with a market capitalization of more than $200 billion each, 17 out of the top 20 names intraday were tech firms, according to data compiled by Finviz. Of those, more than half were from the semiconductor industry. Goldman Sachs adjusted the price target for Advanced Micro Devices (AMD) shares to $640 from $450. The chipmaker was up 9.2%, the top performer in the S&P 500 and the Nasdaq. IBM (IBM) is expected to post a solid Q2 and modestly raise its 2026 guidance, supported by continued software momentum and early integration benefits from its recent Confluent acquisition, BofA Securities said Monday in a report. IBM shares traded 3.6% higher, the Dow's leader. Nike (NKE) was the worst performer on the Dow, down.
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equity indexes traded mixed as chipmakers helped fuel gains in the S&P 500 and the Nasdaq Composite after midday Monday.
The Dow Jones Industrial Average, home mostly to old-economy stocks, bucked the upward trend, remaining 0.1% lower at 52,850.1.
The Nasdaq jumped 1.1% to 26,106.2, and the S&P 500 climbed 0.6% to 7,527.5.
Technology was the standout gainer.
Among stocks with a market capitalization of more than $200 billion each, 17 out of the top 20 names intraday were tech firms, according to data compiled by Finviz.
Of those, more than half were from the semiconductor industry.
Goldman Sachs adjusted the price target for Advanced Micro Devices (AMD) shares to $640 from $450.
The chipmaker was up 9.2%, the top performer in the S&P 500 and the Nasdaq.
IBM (IBM) is expected to post a solid Q2 and modestly raise its 2026 guidance, supported by continued software momentum and early integration benefits from its recent Confluent acquisition, BofA Securities said Monday in a report.
IBM shares traded 3.6% higher, the Dow's leader.
Nike (NKE) was the worst performer on the Dow, down.