Update: Nasdaq, S&P 500 Advance Amid Gains in Chipmakers While Crude Oil Slips
(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.) US equity indexes traded mixed as chipmakers helped fuel gains in the S&P 500 and the Nasdaq Composite while government bond yields traded moderately higher. The Dow Jones Industrial Average, home mostly to old-economy stocks, bucked the upward trend, remaining 0.1% lower at 52,873.5. The Nasdaq jumped 1.3% to 26,168.9, and the S&P 500 climbed 0.7% to 7,532.5. Technology was the standout gainer, followed by communication services. Among stocks with a market capitalization of more than $200 billion each, 15 out of the top 20 names intraday were tech firms, according to data compiled by Finviz. Of those, almost 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 8.6%, 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%.
(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.) US equity indexes traded mixed as chipmakers helped fuel gains in the S&P 500 and the Nasdaq Composite while government bond yields traded moderately higher.
The Dow Jones Industrial Average, home mostly to old-economy stocks, bucked the upward trend, remaining 0.1% lower at 52,873.5.
The Nasdaq jumped 1.3% to 26,168.9, and the S&P 500 climbed 0.7% to 7,532.5.
Technology was the standout gainer, followed by communication services.
Among stocks with a market capitalization of more than $200 billion each, 15 out of the top 20 names intraday were tech firms, according to data compiled by Finviz.
Of those, almost 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 8.6%, 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%.