HERE IS HOW THE MARKET CLOSED TODAY
Five of eleven sectors finished green. Technology was the worst at -1.1%, Basic Materials -1.8% and Real Estate -1.1% behind it.
Chips led the selling:
- Lam Research $LRCX -5.6%
- Intel $INTC -5.6%
- Micron $MU -4.7%
- Advanced Micro Devices $AMD -3.4%
- Nvidia $NVDA -2.4%
Software and hardware went with them. Oracle $ORCL -5.2%, Dell $DELL -5.4%, Hewlett Packard Enterprise $HPE -6.2%, Palantir $PLTR -2.2%.
Apple $AAPL +3.6% was the largest megacap gainer, the day after its iPhone event. Google $GOOGL +0.6% and Microsoft $MSFT +0.2% held up. Meta $META -1.4% and Tesla $TSLA -1.2% did not.
Defensives caught the rotation. Philip Morris $PM +2.2%, AbbVie $ABBV +1.6%, Uber $UBER +2.1%, Intuitive Surgical $ISRG +2.0%.
Consumer Defensive was the best sector at +0.3%.