Stock Market Update
09-Jun-25 14:30 ET
S&P 500 up; ON Semiconductor and Enphase rally, Edison falls on downgrade
Dow +122.73
at 42885.60,
Nasdaq +89.02
at 19618.95,
S&P +19.65
at 6020.01
[BRIEFING.COM] The S&P 500 (+0.33%) is in second place on Monday afternoon.
Briefly, S&P 500 constituents Enphase Energy (ENPH 44.14, +2.96, +7.19%), Albemarle (ALB 63.06, +3.23, +5.40%), and onsemi (ON 52.62, +2.45, +4.88%) pepper the top of the standings. ON rises as Citigroup's channel checks revealed no semiconductor slowdown, with strong demand and low inventories supporting upside potential later in 2025. Investors are optimistic about earnings upgrades for ON and peers like TXN and MCHP amid improving industry conditions.
Meanwhile, Edison (EIX 49.31, -4.45, -8.28%) slides to the bottom of the average after being downgraded to Peer Perform out of Wolfe Research amid wildfire liability and regulatory uncertainty.
