Stock Market Update
08-Jul-24 11:05 ET
NVDA, AVGO, other semiconductor stock outperform, boosting broader market
Dow +153.74
at 39529.61,
Nasdaq +24.89
at 18377.65,
S&P +6.36
at 5573.55
[BRIEFING.COM] The Russell 2000 sports a 1.0% gain while the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite trade near session lows.
Losses in some mega cap names continue to limit the major indices, but gains in the semiconductor space have provided some offsetting support. The PHLX Semiconductor Index (SOX) shows a 1.4%.
NVIDIA (NVDA 127.98, +2.15, +1.7%) and Broadcom (AVGO 1725.78, +22.47, +1.3%), which are the most valuable semiconductor-related stocks in terms of market cap, sport solid gains. This price action is boosting the information technology sector (+0.3%), offsetting losses in Apple (AAPL 225.85, -0.49, -0.2%) and Microsoft (MSFT 465.66, -1.90, -0.4%).
