Big-cap tech stocks drive Nasdaq up 1.5%, led by Alphabet and Amazon, while other majors like Microsoft and Apple lag.
The Nasdaq Composite climbed to its highest level of the day, rising 1.5% as gains in Alphabet and Amazon offset weakness in Microsoft and Apple. Alphabet surged 4.5%, while Amazon advanced 3.9%, though both saw intraday volatility. Tesla also contributed, up 5.8%, but broader tech performance remained uneven amid shifting investor focus on AI leadership and quarter-end flows.
Earlier in the session, futures pointed to a stronger open, but gains faded before rebounding in the last hour. Memory chip stocks exhibited sharp moves, with Western Digital up 9% after trading sideways, while Micron fell 2.4% after erasing its post-earnings rally. Nvidia recovered from earlier losses to trade higher.
Market dynamics suggest selective buying in tech, with Alphabet potentially benefiting from reports of compute access restrictions for customers, including Meta. However, broader volatility reflects ongoing uncertainty over AI-driven growth and macroeconomic factors.