The Dow Couldn't Keep Up With Chip Stocks on Monday
Broadcom's Apple deal and AMD's self-driving ambitions powered the Nasdaq higher on Monday while the Dow spun its wheels.
Overview
Chip stocks led a Monday rally that lifted two of the three major indexes while leaving the third stuck near the flatline.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 1.3% by 12:48 p.m. ET. The S&P 500 (SNPINDEX: ^GSPC) rose 0.7% at the same time. The Dow Jones Industrial Average (DJINDICES: ^DJI) slipped 0.1% after briefly touching an intraday record earlier in the session.
Details
The iShares Semiconductor ETF (NASDAQ: SOXX) gained 4.1%, bouncing back from a two-week losing streak that had investors wondering if the chip trade was finally running out of steam.
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.