NASDAQ index moving lower as the US trading kicks off.

8 months ago 32

RoboForex - professional services on Forex market

A backpedaling is seen in the NASDAQ index after reaching all-time highs last week

The major US stock indices are mixed with the Dow Industrial Average higher. The S&P is marginally lower, while the NASDAQ index is the biggest decliner.

A snapshot of the market currently shows:

Dow industrial average is up 95 points or 0.21% at 45006.
S&P index is down -6.5 points or -0.10% at 6442.70
NASDAQ index is trading down -83 points or -0.39% at 21546.55

The small-cap Russell 2000 is near unchanged at 2294.62.

Chip stocks are under pressure:

Broadcom -1.67%
Nvidia -0.54%
AMD -3.26%

Shares of Intel are bucking the trend with a gain of 8.33% at $25.64. Despite a dilution via a sale of $2B of fresh equity to SoftBank announced overnight, the market is cheering on the recent news that the government is putting faith (and perhaps providing a free put) by converting Chip Act money into an equity position.

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