Dow på rekordhøyde mens Nasdaq faller på teknologisvakhet og inflasjonsdata

Nasdaq Composite falt torsdag da investorer roterte ut av store teknologiselskaper, selv etter en sterk kvartalsrapport fra Micron Technology.

Dow Jones Industrial Average slo derimot til med en ny intradag-rekord, drevet av oppgang i ikke-teknologisektorer.

Nasdaq declined 0.46%, while the S&P 500 hovered near the flatline.

Dow steg 72 poeng, or 0.1%, med helse, finans og industri som pådriverne.

Johnson & Johnson og JPMorgan Chase steg henholdsvis mer enn 1% og 2%, mens Caterpillar hoppet 5%.

Store teknologiselskaper trekker ned Nasdaq

Teknologisektoren ledet den bredere svakheten. Apple falt 5% etter å ha kunngjort prisøkninger på MacBook- og iPad-produkter, med henvisning til økende komponentkostnader som halvledere.

Microsoft falt også nær 4% etter å ha økt prisene på Xbox-konsoller.

Andre store teknologinavn kom også under press. Alphabet og Meta Platforms falt begge omtrent 1%, da investorer vurderte potensielt marginpress fra høyere chipkostnader.

Markedsdeltakere påpekte bekymring for at stigende priser på halvledere kan slå gjennom i det bredere teknologiekosystemet.

Inflasjonsdata former Fed-utsiktene

Nye økonomiske data påvirket markedssentimentet.

May’s personal consumption expenditures (PCE) index showed headline inflation rose 0.4% month-over-month and 4.1% year-over-year, both in line with expectations.

Core PCE increased 0.3% monthly and 3.4% annually, also matching forecasts.

Although core inflation reached its highest level since October 2023, investors took some comfort that the figures did not exceed expectations amid rising energy costs linked to geopolitical tensions.

Treasury yields edged lower, with the benchmark 10-year yield slipping more than 1 basis point to 4.384%.

Traders continue to anticipate at least one interest rate increase before year-end, according to LSEG data.

After four consecutive sessions of losses, West Texas Intermediate crude moved higher as geopolitical tensions in a key shipping route added to supply concerns.

A vessel was reportedly struck by an unidentified projectile in the Strait of Hormuz shortly after several commercial ships reversed course while attempting to pass through the strategic waterway.

The developments raised concerns over the stability of the corridor, potentially complicating recent signs of a reopening of the energy chokepoint.

Blandet markedsutvikling idet halvlederaksjer stiger

Til tross for svakheten i Big Tech, ga semiconductor stocks støtte til deler av markedet.

Micron surged 14% after reporting strong fiscal third-quarter results and raising forecasts. Qualcomm gained 6% after increasing its non-handset revenue outlook for fiscal 2029.

Other chip-related names also advanced, including Sandisk, Western Digital, KLA and Applied Materials.

Among other movers, Bio-Techne Corp (TECH.O) rose after Germany’s Merck KGaA (MRCG.DE) agreed to acquire the biotech company in an all-cash deal valued at $73 per share, implying a total enterprise value of approximately $11.3 billion.

Six of the 11 major S&P 500 sectors ended higher, led by industrials, which rose 1.9%. Consumer discretionary and consumer staples lagged.

The Philadelphia Semiconductor Index rose 3.59% and is on track for its strongest quarter on record, according to LSEG data.