Dow Rebounds 385 Points as Chip Stocks Surge, Leading US Market Higher

Price ActionIndustry
โดย Kaohoon·Read original
Summary · why it matters

US stocks closed higher on Tuesday, with the Dow rebounding 385.38 points to 52,224.64. The S&P 500 gained 0.89% and the Nasdaq jumped 1.29%, led by a strong recovery in semiconductor stocks. The Philadelphia SE Semiconductor Index, or SOX, surged 5.2% for a second straight day, after falling more than 20% from its record high in late June. Despite the recent heavy sell-off, the chip index is still up nearly 75% since the start of the year. Investors are watching earnings from major technology companies this week, especially Alphabet, Intel, and Texas Instruments, to gauge the outlook for the AI business. 3M shares jumped 7.3% after raising its full-year profit forecast, while Hasbro surged 8.8% on demand for digital games and Magic: The Gathering. Danaher fell 11% after cutting its revenue outlook, and MSCI dropped 10% after increasing its operating expense forecast.

Impact on stocks 7

Artificial Intelligence · 2 stocks
3M Company
MMM
▲ PositiveCapitalrelevance

3M raised its full-year profit forecast, a positive earnings/capital event.

Semiconductors · 2 stocks
Biotech & Genomic Medicine · 1 stocks
Danaher Corporation
DHR
▼ NegativeDemandrelevance

Danaher cut its revenue outlook, indicating weaker end-customer demand.

Consumer Discretionary · 1 stocks
Hasbro Inc
HAS
▲ PositiveDemandrelevance

Hasbro surged on demand for digital games and Magic: The Gathering.

Financials · 1 stocks
MSCI Inc
MSCI
▼ NegativeCapitalrelevance

MSCI dropped 10% after increasing its operating expense forecast.