Stocks Gain as Chipmakers Rebound Ahead of Megacap Earnings

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Summary · why it matters

U.S. stock indexes climbed on Tuesday as a rebound in chipmakers and AI-infrastructure stocks gathered pace. The S&P 500 rose 0.38%, the Dow Jones Industrial Average added 0.17%, and the Nasdaq 100 jumped 1.26%. Chipmakers rallied after a recent selloff cheapened valuations, drawing dip buyers ahead of megacap technology earnings this week, starting with Alphabet on Wednesday. Software stocks were weak after Morgan Stanley downgraded several companies in the sector, including Adobe, Intuit, and Workday. Hasbro surged more than 10% after reporting better-than-expected quarterly revenue and raising its full-year adjusted Ebitda forecast, while 3M gained over 8% on stronger earnings and an improved outlook. Danaher fell more than 13% after issuing a weaker revenue growth forecast, and MSCI dropped over 10% on an earnings miss and higher expense guidance.

Impact on stocks 38

Artificial Intelligence± Mixed · 9 stocks
3M Company
MMM
▲ PositiveCapitalrelevance

3M reported stronger earnings and an improved outlook, gaining over 8%.

Cloud & Digital Infrastructure · 7 stocks
Workday Inc
WDAY
▼ NegativeCapitalrelevance

Morgan Stanley downgraded Workday, contributing to weakness in software stocks.

Intuit Inc
INTU
▼ NegativeCapitalrelevance

Morgan Stanley downgraded Intuit, contributing to weakness in software stocks.

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

Danaher issued a weaker revenue growth forecast, causing its stock to fall over 13%.

Consumer Discretionary · 2 stocks
Hasbro Inc
HAS
▲ PositiveCapitalrelevance

Hasbro reported better-than-expected quarterly revenue and raised its full-year adjusted Ebitda forecast, surging over 10%.

Financials · 1 stocks
MSCI Inc
MSCI
▼ NegativeCapitalrelevance

MSCI dropped over 10% on an earnings miss and higher expense guidance.

Cybersecurity & Digital Trust · 1 stocks
Energy · 1 stocks