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Barchart
Barchart
Rich Asplund

Rotation out of Tech Stocks Weighs on the Broader Market

The S&P 500 Index ($SPX) (SPY) today is down -0.11%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.69%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.05%.  March E-mini S&P futures (ESH26) are down -0.16%, and March E-mini Nasdaq futures (NQH26) are down -1.10%.

Stock indexes are mixed today, with the Nasdaq 100 falling to a 2-week low.  Investor rotation out of high-flying chipmakers and AI-infrastructure stocks today is weighing on the broader market.  Corporate earnings results today are mixed for stocks.  Super Micro Computer is up more than +13% after forecasting Q3 net sales well above expectations.  However, Advanced Micro Devices is down more than -15% after analysts said the company’s Q1 sales forecast was seen as weak.

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