The major US stock indices are mixed with the Dow Industrial Average higher. The S&P is marginally lower, while the NASDAQ index is the biggest decliner.
A snapshot of the market currently shows:
- Dow industrial average is up 95 points or 0.21% at 45006.
- S&P index is down -6.5 points or -0.10% at 6442.70
- NASDAQ index is trading down -83 points or -0.39% at 21546.55
The small-cap Russell 2000 is near unchanged at 2294.62.
Chip stocks are under pressure:
- Broadcom -1.67%
- Nvidia -0.54%
- AMD -3.26%
Shares of Intel are bucking the trend with a gain of 8.33% at $25.64. Despite a dilution via a sale of $2B of fresh equity to SoftBank announced overnight, the market is cheering on the recent news that the government is putting faith (and perhaps providing a free put) by converting Chip Act money into an equity position.
Intel is trading at the highest level since March 18
NASDAQ index moving lower as the US trading kicks off.