Moving the Market
— NVIDIA lowered Q2 guidance, attributed to a lower sell-in of Gaming products
— Resilience to selling acting as its own catalyst
— Senate passed the Inflation Reduction Act
The PHLX Semiconductor Index is down 1.1% with most components exhibiting losses in solidarity with NVIDIA (NVDA 179.06, -10.83, -5.7%). Intel (INTC 35.80, +0.41, +1.2%) is moving against the grain with the largest gains among index components.