The S&P 500 and Nasdaq saw gains as investors focused on mega-cap stocks, countering the drag from Intel’s forecast-driven plunge and geopolitical concerns. Intel’s shares plummeted 15.6% after the chipmaker reported quarterly forecasts below market expectations, struggling with AI server chip demand.
Meanwhile, increased safe-haven demand elevated gold and pushed silver past $100 per ounce. Wall Street’s fear gauge rose slightly, while semiconductor indexes recorded declines. Analysts point to inflated AI stock valuations, stressing the need for tangible growth plans.
As the Dow, S&P, and Nasdaq present mixed performances, eyes are on the ‘Magnificent Seven’ tech giants with upcoming earnings reports. The Federal Reserve’s pending interest rate decision also holds investor attention as economic indicators show stability.
(With inputs from agencies.)