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Stocks Rise as Tech Gains Offset Mixed Economic Signals
WhyUS equities advanced as technology shares lifted the Nasdaq 1.05%, driven by optimism around Meta's AI positioning and Nvidia's continued rally.
- S&P 500 gained 0.66%, Nasdaq up 1.05%, Dow added 0.18%
- Harley-Davidson rose 10% after Citi upgrade citing retail growth
- Genmab advanced 11% on positive cancer drug trial results
- 10-year Treasury yield edged up to 5.30%, dollar index gained 0.22%
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- CPI inflation · Wed, Oct 14 · 8:30 AM ET
- META▲ +1.90%· via Yahoo
Meta Platforms Gains 1.90% on White House AI Accord Benefits
Meta Platforms Inc (META) rose 1.90% to $741.90. The company's shares climbed 27% in September following the White House AI Accord, which reduced regulatory risk for its open-source strategy. The stock now sits at 85.4% of its 52-week range.
- AVGO▲ +2.08%· via Yahoo
Broadcom Rises 2.08% as Morgan Stanley Sees Protection From Power Shortfall
Broadcom Inc (AVGO) gained 2.08% to $362.51. Morgan Stanley said the company may be well protected from a 32-gigawatt power shortfall that could delay U.S. AI data-center development through the forecast period. The stock has returned +12.90% over six months.
- INTC▼ -2.63%· via Yahoo
Intel Corp Falls 2.63% as Musk's Terafab Holds Talks With TSMC
Intel Corp (INTC) fell 2.63% to $116.19. Elon Musk confirmed that Taiwan Semiconductor Manufacturing is in discussions with his chip venture Terafab. The stock trades at 76.1% of its 52-week range, with a six-month return of +136.86%.
Technology stocks lifted Nasdaq 2.7% while energy and utilities fell 2.7% and 4.2%
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