Morning Market
Dow 52743.84 -156.23 (-0.30%)
Nasdaq 26094.92 +241.25 (0.93%)
SP 500 7514.41 +31.17 (0.42%)
10-yr Note
NYSE Adv 1422 Dec 1100 Vol
Nasdaq Adv 2302 Dec 1536 Vol
Moving the Market
Semiconductor stocks rebound, broader market tilts lower
The information technology sector (+1.8%) is the early leader, buoyed by sharp gains across chipmakers such as Advanced Micro Devices (AMD 562.02, +44.20, +8.54%), memory names such as Western Digital (WDC 591.36, +52.36, +9.72%), and a host of other semiconductor-related stocks. The PHLX Semiconductor Index is up 4.4%.
Industrials sector (+1.1%) also outperforms, as electrical product names and other stocks of companies deemed necessary for the AI buildout cycle garner buying interest alongside semiconductor stocks.
Strength is limited elsewhere, with just the energy (+0.4%) and financials (+0.1%) sectors holding slight gains.
Meanwhile, seven S&P 500 sectors trade lower, with particular weakness across more defensive-oriented sectors as momentum returns to semiconductor stocks. The health care (-2.0%) and consumer staples (-1.4%) have given up the bulk of Friday’s gains.