At midday, the S&P 500 (SNPINDEX:^GSPC) inched up 0.07% to 7,585.26, the Nasdaq Composite (NASDAQINDEX:^IXIC) rose 0.23% to 27,034.50 on artificial intelligence (AI) strength.
The Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.24% to 50,912.06 as oil-linked cyclicals lagged
Market movers Nvidia jumped more than 4% this morning, after unveiling a new AI-focused PC chip. The news helped push Dell Technologies up 8% and Microsoft up 2%, as both firms benefit from the chip. Dell also got a boost from a Morgan Stanley upgrade, as analysts more than doubled the stock’s price target.
On the other hand, Qualcomm (NASDAQ:QCOM) and Intel fell on fears of tougher PC competition. ServiceNow extended its rally with a 10% surge as investors reassessed software stocks. What this means for investors Markets were muted this morning as hopes for an imminent end to the U.S.-Iran war began to fade again, even as fresh announcements from Nvidia boosted mega-cap tech stocks.