The S&P 500 Index ($SPX) (SPY) today is up +1.71%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.44%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +2.89%.
US stocks today are moderately higher, with the S&P 500 and Nasdaq 100 posting 1-week highs and the Dow Jones Industrials posting a 1-1/2 week high. A flurry of bullish news today is powering a rebound in chip stocks. Nvidia is up more than +10% after Morgan Stanley named the stock a top US chip stock pick and said the recent selloff in the stock has opened up a good entry point. Also, ASML Holding NV is up more than +7% after Reuters reported the Biden administration planned to exempt chip equipment makers in Japan, the Netherlands, and South Korea from upcoming export restrictions. In addition, Advanced Micro Devices is up more than +6% after an upbeat revenue forecast.
