July 15 – The S&P 500 inched to a fresh record above 6,300, while the Nasdaq Composite climbed about 1%, and the Dow Jones Industrial Average lost 213 points (about 1%).
Nvidia (NASDAQ:NVDA) led chip stocks higher, jumping more than 4.5% after saying it may soon resume shipments of its H20 GPUs to China. Advanced Micro Devices (NASDAQ:AMD) surged about 7%, Broadcom (NASDAQ:AVGO) climbed roughly 2% and Qualcomm (QCOM) rose near 1%.
Financial shares offered mixed signals. Wells Fargo (NYSE:WFC) sank more than 4% after trimming net interest income guidance despite beating estimates, while Citigroup (NYSE:C) added about 1% on stronger?than?expected quarterly results. JPMorgan Chase (NYSE:JPM) edged lower despite solid trading and investment?banking revenue.
Investors now shift focus to the rest of second?quarter earnings, with the S&P 500’s blended year?over?year profit growth poised to mark its slowest pace since late 2023.
This article first appeared on GuruFocus.
