Business · Markets · 5 hrs ago
Nasdaq rises 1.1% as investors return to AI and technology stocks
Investors returned to AI and technology shares after last week’s sell-off, leaving US stocks mixed.
The Dow fell 0.07% to 51,966.03, while the S&P 500 rose 0.41% to 7,690.73.
The Nasdaq climbed 1.11% to 26,430.886, and the Philadelphia semiconductor index rose 1.61%, ending an eight-session losing streak.
Intel gained 2.4% after falling 14% last week, while Micron and Marvell rose about 3% and 4%.
Oil prices moved in opposite directions as conflicts involving Ukraine, Russia, Houthi forces and Saudi Arabia continued, and concerns about the Strait of Hormuz grew.
Brent fell to $109.55 a barrel, while US WTI rose to $103.66.
The Nasdaq rose 1.11% as investors returned to technology stocks after a sell-off in AI-related shares the previous week.
The S&P 500 gained 0.41%, while the Dow fell 0.07%.
The Philadelphia Semiconductor Index rose 1.61%, ending an eight-session losing streak.
Oil prices moved in opposite directions, with Brent down and US crude up.
- Who
- Investors returned to AI-related and other technology stocks.
- What
- The Nasdaq rose 1.11%, while the Dow edged lower and the S&P 500 gained.
- When
- Monday, October 19, according to CNBC as cited in the article; the article also refers to trading on the 13th.
- Where
- US stock markets.
- Why
- Investors bought technology shares after a sell-off in AI-related stocks the previous week.
This story does not have two clearly opposing sides.
AI-related stocks sold off, and Intel shares ended the week down 14%.
Investors returned to technology stocks, and the Nasdaq rose; the article also describes trading on the 13th.
- Nasdaq
- Up 290.852 points, or 1.11%, to 26,430.886
- S&P 500
- Up 31.29 points, or 0.41%, to 7,690.73
- Dow
- Down 36.38 points, or 0.07%, to 51,966.03
- Philadelphia Semiconductor Index
- Up 179.06 points, or 1.61%, ending an eight-session decline
- Brent crude
- December contract down $0.31, or 0.28%, to $109.55 a barrel
- WTI crude
- November contract up $2.25, or 2.22%, to $103.66 a barrel
What people are saying
Technology stocks broadly rebounded after last week’s sell-off, leaving markets mostly higher, but investors were not greatly encouraged because the Dow fell and Treasury yields rose.
The Nasdaq rose Monday as investors returned to technology stocks after last week’s sharp drop in AI-related shares.