NASDAQ, S&P 500 CLIMB EARLY WITH CHIPS, TECH
The Nasdaq TVC:IXIC and S&P 500 CBOE:SPX are higher in early trading on Monday after the long holiday weekend as chip and other technology stocks gain. The Dow DJ:DJI is lower.
An index of semiconductors NASDAQ:SOX is up 4.8% after recent sharp losses, while technology SP:S5INFT is up more than 2% and leading S&P 500 CBOE:SPX sector gainers.
Among chipmakers, Broadcom NASDAQ:AVGO is up more than 5% after an agreement with Apple NASDAQ:AAPL to expand their partnership through 2031 to develop and supply a range of custom chips. Apple shares are up 0.8%.
The Nasdaq 100 NASDAQ:NDX is up 1.5% early. SpaceX NASDAQ:SPCX, which had a record market debut on June 12, is expected to join the Nasdaq 100 on Tuesday. SpaceX is up about 1%.
Investors are gearing up for second-quarter earnings season, which is set to begin later this month. They are optimistic after a strong first-quarter season.
Here is the early market snapshot:
(Caroline Valetkevitch)
*****
EARLIER ON LIVE MARKETS:
ROBOTAXIS — A $1 TRILLION MARKET OPPORTUNITY BY 2040 CLICK HERE
BENCHMARK TREASURY YIELD REMAINS COILED WITH VOLATILITY NEAR MULTI-DECADE LOW CLICK HERE
WHY THE RALLY MAY KEEP RALLYING CLICK HERE
MORE AUTO PROFIT WARNINGS MAY BE COMING CLICK HERE
AN INDEX OF AI HEALTH JUST FELL INTO A BEAR MARKET CLICK HERE
KEEPING THE GAINS GOING CLICK HERE
EUROPE BEFORE THE BELL: LOTS OF BIG DEAL NEWS CLICK HERE
SAMSUNG TO SERVE CHIP TASTER FOR EARNINGS FEAST CLICK HERE