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Barchart
Barchart
Rich Asplund

Weakness in Technology Stocks Pressures Stock Indexes

The S&P 500 Index ($SPX) (SPY) today is down -0.16%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +1.41%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.23%. June E-mini S&P futures (ESM26) are down -0.14%, and June E-mini Nasdaq futures (NQM26) are down -1.16%.

Stock indexes are mixed today, with the Dow Jones industrials posting a new all-time high. The broader market is under pressure today amid weakness in technology stocks. Broadcom is down more than -15% to lead chipmakers lower after its forecast for artificial-intelligence revenue in the current quarter fell short of expectations. Also, CrowdStrike Holdings is down more than 6% to lead cybersecurity stocks lower, despite reporting better-than-expected Q1 earnings, as the report wasn’t strong enough to lift the stock, which has more than doubled from a March low. Strength in managed healthcare stocks today is helping push the Dow Jones Industrial Average to a record high.

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