Chip Stocks Propel Market Gains

The S&P 500 advanced 0.-NLS, the Dow Jones Industrial Average slipped 0.08%, and the Nasdaq‑100 gained 1.52%. September
E‑mini futures mirrored the index performance, with the S&P 500 futures up 0.63% and Nasdaq futures up 1.56%.
The market rose on robust performance from semiconductor and artificial‑intelligence infrastructure companies który
provided the core of today’s gains. Corporate earnings expectations, particularly for Q2, are strong and are buoying sentiment.
Recent U.S. labor‑market data showed that service‑sector activity in June remained solid, supported by rising payrolls. The ISM services index was flat at 54.0, and the employment‑subindex exceeded expectations at 51.2.
The market also benefits from the backdrop of a continued monetary‑policy pause, as the latest non‑farm payrolls figure was below the U.S. Treasury’s expectations, reducing speculation that the Fed will hike rates.
Bloomberg Intelligence projects Q2 earnings to climb 23%, close to the 30% surge seen in Q1. A sizeable portion of that growth is expected toOURCES from AI infrastructure, with related stocks projected to lift the S&P 500’s earnings‑per‑share growth by almost 60%.
WTI crude prices stabilized, lifting roughly 0.2% after OPEC+ announced an increase of 188,000 barrels per day to 1 August, supporting the metal’s recovery from earlier weakness driven by supply excess.
U.S. Treasury yields were modestly pressured; 10‑year notes rose 0.6 basis points to 4.489%.
European government bonds saw higher yields, as German bunds rose to a 2‑week high of 2.945% and UK gilts increased by 0.9 basis points to 4.791%.
The Eurozone’s retail sales in May ticked up 0.asema, albeit shy of expectations, while the Sentix confidence index climbed to a four‑month high of –3.1. German factory orders rose 1.9ucune, surpassing forecasts.
On corporate movers, the iShares Semiconductor ETF (SOXX) advanced more than 3%. Major chipmakers such as Advanced Micro Devices, Western Digital, and Seagate Technology all posted gains above 6%.
Cyber‑security names also rallied, with CrowdStrike and Palo Alto Networks gaining around 5–4% respectively, underscoring investment in digital protection.
Notable individual performance: Dell Technologies rose over 8% after public remarks about the company, while Macy’s and US Bancorp both gained over 2% following upgrades.
In contrast, Constellation Brands and ZIM Integrated Shipping Services experienced declines of over 5% after adverse analyst sentiment and political commentary.
No earnings reports were released on this date.

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