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Barchart
Barchart
Rich Asplund

Broader Market Lower as Chip Stocks Tumble

Nvidia United States Box Inc Foot Locker Insulet J M Smucker Kohl Nordstrom Super Micro Computer

The S&P 500 Index ($SPX) (SPY) today is down -0.27%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.81%.

Weakness in chip stocks is weighing on the overall market ahead of quarterly earnings results from Nvidia after the close.  Corporate news today is mixed for stocks.  Super Micro Computer is down more than -24% after it said it will delay filing its Annual Report on Form 10-K for the fiscal year ended June 30, 2024.  Also, Foot Locker is down more than -12% after cutting its 2025 gross margin forecast.  In addition, J M Smucker is down more than -5% after cutting its full-year net sales forecast.

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