Wall Street closes higher as chips surge, small caps rally and oil slides sharply
Executive summary: U.S. stocks finished higher, led by a powerful rebound in AI and chip shares, while small caps, banks and defense stocks also advanced. The session was marked by a sharp drop in WTI crude, a pullback in gold, and a strong move in palladium, suggesting a broad rotation across risk assets and commodities. The biggest single equity move in the data was SOXX, which jumped more than 10%, while Microsoft, Apple, Meta and Amazon all fell. The S&P 500, Nasdaq Composite and Dow Jones each ended in the green, with the Russell 2000 outperforming the large-cap benchmarks. [Continue Reading]
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Wall Street closes sharply lower as megacap tech leads a broad risk-off move, while defence and palladium stand out
Executive summary: US stocks finished lower in a broad selloff, led by steep declines in megacap technology and AI-linked shares. Meta, Microsoft and Nvidia were among the biggest drags, while defence stocks and palladium bucked the weakness. The move came alongside softer crude, gold and energy prices, a mixed FX backdrop, and a modest rise in Bitcoin. [Continue Reading]
