Market Indexes Close Out June With a Tech-Fueled Tuesday Rally
Chip stocks are rallying hard into the end of June. Here's what's driving the semiconductor surge.
Overview
The Nasdaq Composite (NASDAQINDEX: ^IXIC) index rose 1.1% by noon ET Tuesday as semiconductor stocks surged, lifting the broader market on the final trading day of June. The S&P 500 (SNPINDEX: ^GSPC) gained 0.6%, while the Dow Jones Industrial Average (DJINDICES: ^DJI) added a modest 0.2%.
Chip stocks dominated the session, with the iShares Semiconductor ETF (NASDAQ: SOXX) climbing 3.6%. The Silicon Valley surge was broad rather than concentrated in a single name. Apple (NASDAQ: AAPL) led the S&P 500 and Nasdaq Composite higher, adding $110 billion in market capitalization on a fairly modest 2.6% gain.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.