Nvidia rose 3.43% while the S&P 500 and Nasdaq dipped as semiconductor stocks retreated after AMD’s disappointing guidance.
Global equities lost momentum near record highs as technology shares weakened, with the S&P 500 falling 0.17% and the Nasdaq underperforming. Semiconductor stocks, including AMD, retreated after recent gains, dragging the Philadelphia Semiconductor Index down 1.40% despite a 6.17% weekly rise.
Nvidia bucked the trend, climbing 3.43% amid optimism over its next-generation Rubin AI chips. Asian markets with heavy tech exposure also declined, while the Stoxx 600 inched to another all-time high. Treasury yields and oil prices edged lower despite solid U.S. economic data and geopolitical developments.
AMD’s guidance missed elevated expectations, dropping 7.04%, while SpaceX slid 13.61% after earnings. The broader AI narrative remained intact, supporting selective tech outperformance.