Investors saw a mixed day in the equity markets as chip stocks led the way up while food stocks lagged behind. The Dow Jones Industrial Average saw a boost, with Intel leading the index higher by 3.7%. Other tech giants like Amazon and Microsoft also contributed to the rally. On the other hand, Amgen led the index’s laggards, falling 1.4%.
In the S&P 500, Kroger jumped 9.9% after reporting better-than-expected earnings, while General Electric gained 4.4% following positive news about its aerospace division. Cigna also rose after reaching a deal with Eli Lilly and Novo Nordisk. However, Brown Forman slid 2.7% after disappointing earnings.
The Nasdaq 100 saw semiconductor stocks leading the index higher, with Onsemi and Qualcomm posting gains. Nvidia continued its impressive run, rising 4.5% and adding over $1 trillion in market cap so far this year. Micron also saw a boost after an upgrade from Stifel.
Overall, the markets were driven by a mix of positive earnings reports, analyst upgrades, and promising trial results. While some stocks surged, others faced challenges, reflecting the ongoing volatility in the market. Investors will be keeping a close eye on developments as they navigate through the current landscape.
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