Apple Inc.China approved rollout of Apple's generative AI feature, enabling new product capability.
The S&P 500 closed at a six-week high on Wednesday, rising 0.38% as a softer-than-expected June producer price report and strong earnings from ASML outweighed a rout in semiconductor stocks. The Dow Jones Industrial Average added 0.29%, while the Nasdaq 100 slipped 0.28% under pressure from chipmakers. June final-demand producer prices rose 5.5% year-over-year, below the 6.2% consensus, and the July Empire manufacturing survey jumped to 15.6, well above the 9.2 estimate. Apple surged more than 4% after China approved the rollout of its generative artificial intelligence feature, leading gains among the Magnificent Seven, while ASML’s results underscored robust AI-driven chip demand. However, the iShares Semiconductor ETF fell over 2%, with Western Digital down more than 8% and Micron Technology off more than 6%. Health insurers also declined after Elevance Health tumbled more than 8% on guidance that disappointed relative to its second-quarter beat. PayPal soared over 17% on a report that Stripe and Advent International made a joint $53 billion takeover offer.
Apple Inc.China approved rollout of Apple's generative AI feature, enabling new product capability.
Adobe Systems Incorporated
Advanced Micro Devices Inc
Amazon.com Inc
Alphabet Inc Class C
International Business Machines
Meta Platforms Inc.
3M Company
Marvell Technology Group Ltd
Microsoft Corporation
NVIDIA Corporation
Oracle Corporation
Phoenix Education Partners, Inc.
Atlassian Corp Plc
Thomson Reuters Corporation Common Shares
Tesla Inc
ASML Holding N.V.ASML's strong earnings underscore robust AI-driven chip demand.
Micron Technology IncPart of chip slump; Micron fell over 6% amid semiconductor rout.
Intel Corporation
Lam Research Corp
Sandisk Corp
Elevance Health IncElevance Health's guidance disappointed relative to Q2 beat, causing shares to tumble.
Cigna Corp
Centene Corp
Molina Healthcare Inc
Western Digital CorporationWestern Digital down more than 8% as chip stocks slumped.
Autodesk Inc
Seagate Technology PLC
Workday Inc
PayPal Holdings IncStripe and Advent International made a joint $53 billion takeover offer for PayPal.
BlackRock Inc
Lionsgate Studios Holding Corp.
Netflix Inc
Pentair PLC
The Travelers Companies Inc
Abbott Laboratories
Cintas Corporation
Intuitive Surgical Inc
Karman Holdings Inc.
Progressive Corp
UnitedHealth Group IncorporatedAdvent International reportedly made a joint $53 billion takeover offer for PayPal.
Stripe reportedly made a joint $53 billion takeover offer for PayPal.