Dow Hits Record High as 360 S&P 500 Stocks Rise After Broadcom Forecast
Updated
Updated · Bloomberg · Jun 17
Dow Hits Record High as 360 S&P 500 Stocks Rise After Broadcom Forecast
3 articles · Updated · Bloomberg · Jun 17
Summary
The Dow Jones Industrial Average reached all-time highs even as Wall Street pulled money out of chipmakers and into economically sensitive sectors.
Broadcom’s weaker-than-hoped AI chip sales outlook punctured the semiconductor rally, sending its shares to their biggest drop since January 2025 and knocking a key sector gauge down 2.2%.
That chip weakness did not derail the broader market: about 360 companies in the S&P 500 advanced, signaling a rotation rather than a broad selloff.
Jobs data due next helped support the shift, with investors positioning for figures expected to show solid growth and a still-resilient economy.