S&P 500 slips 0.17% and Nasdaq 100 drops 0.83% as AMD outlook hits chip stocks
AI Market Summary
US equities finished mixed as the S&P 500 and Nasdaq 100 reversed from highs, led lower by a sharp AMD-driven semicap selloff and SpaceX weakness, partially offset by strong earnings from Amgen, Booking, and others. Macro data were slightly softer, but an elevated ISM services prices-paid reading and hawkish Fed commentary reinforced sticky inflation risks. Rate-hike odds remain meaningful, keeping index-level risk appetite constrained.
Impact level
● High
Affected assets
NCSISP5002USD/USDT-0.26%
AI Insight · NCSISP5002USD/USDTAI Insight
● Neutral
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U.S. stocks finished mixed on Wednesday, with the S&P 500 and Nasdaq 100 retreating from earlier highs while the Dow posted gains. Chipmakers led declines after Advanced Micro Devices’ third-quarter sales forecast fell short of expectations, dragging the sector lower. Amgen advanced after reporting results that beat expectations, while SpaceX slid more than 13% after projecting higher-than-expected spending on its AI business.
