Updated
Updated · CNBC · Jul 20
S&P 500 Rises 0.89% as Chip Stocks and Earnings End 3-Day Slide
Updated
Updated · CNBC · Jul 20

S&P 500 Rises 0.89% as Chip Stocks and Earnings End 3-Day Slide

3 articles · Updated · CNBC · Jul 20

Summary

  • The Dow gained 385.38 points, the S&P 500 rose to 7,509.20 and the Nasdaq added 1.29%, with all three major indexes snapping three-day losing streaks.
  • Chipmakers and upbeat earnings drove the rebound: the VanEck Semiconductor ETF climbed more than 4%, Micron jumped 12%, Intel 8%, 3M more than 7% and GM nearly 5%.
  • About 88% of the 66 S&P 500 companies reporting so far have beaten profit estimates, though investors are setting a higher bar after the market's run to record highs.
  • Oil still stayed elevated amid the U.S.-Iran war, with WTI up 2% at $84.91 and Brent up 2% at $91.01, even as traders watched reports of a proposed 10-day ceasefire.

Insights

Are investors ignoring the risk of a wider U.S.-Iran conflict by focusing solely on strong corporate earnings?
Can the AI boom's productivity gains truly allow the Fed to cut interest rates despite persistent high inflation?
How will the semiconductor industry overcome its projected one-million-worker talent shortage to meet massive global demand?