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Barchart
Barchart
Rich Asplund

Stocks Pressured by Chip-Stock Sell-off and Increased Talk about Powell Firing

Powell Donald Trump Nasdaq United States US Federal Reserve Bitcoin White House ASML CBS Crypto

The S&P 500 Index ($SPX) (SPY) today is down -0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.30%.  September E-mini S&P futures (ESU25) are down -0.03%, and September E-mini Nasdaq futures (NQU25) are down -0.26%.

Stocks are seeing support today from the favorable PPI report and positive earnings results from several top Wall Street banks.  However, the Nasdaq 100 index is being undercut by weakness in chip stocks, which fell after disappointing guidance from ASML.

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