Stock Indexes Wrap: Semiconductor, AI Stock Send Nasdaq Higher; JPMorgan Weighs on Dow

In today’s stock market news, the Nasdaq saw a boost from semiconductor and AI stocks, while the Dow faced pressure from JPMorgan. Microsoft led the tech sector higher with a 1.2% gain after unveiling new AI-equipped personal computers. Other tech giants like Intel and Apple also saw gains.

On the other hand, JPMorgan Chase fell 4.5% after CEO Jamie Dimon hinted at retirement plans, overshadowing the firm’s raised net interest income forecast. In the S&P 500, Norwegian Cruise Line Holdings surged 7.6% after raising its earnings outlook, with Carnival Corp and Royal Caribbean also seeing gains.

In the Nasdaq 100, chip stocks like Marvell Technology and Micron led the way, while Palo Alto Networks ticked up ahead of its earnings report. Tesla, however, fell 1.5% after Chinese rival Li Auto reported disappointing earnings.

Hims & Hers Health soared after announcing a weight-loss product, while Johnson Controls rose on news of activist investor Elliott Management’s stake. Gold prices hit a record high above $2,450 per ounce amid expectations of Fed rate cuts.

Overall, stock futures were slightly up, with Dow futures flat, S&P 500 futures rising 0.1%, and Nasdaq 100 futures up 0.2%. Stay tuned for more updates on the stock market as the day progresses.