S&P 500 Rises as Chipmakers Rebound and Oil Falls: Markets Wrap
(Bloomberg) — A rebound in chipmakers brought relief to Wall Street traders, lifting stocks on optimism that solid earnings will continue to power the bull market.
More than 400 companies in the S&P 500 advanced. A closely watched gauge of semiconductor giants erased a 2.4% decline that had been fueled by worries about the outlook for artificial intelligence. A drop in oil prices also helped sentiment, driving bond yields lower.
Corporate America is now navigating one of the strongest profit cycles in recent history, with the S&P 500 posting seven consecutive quarters of double-digit earnings growth. And investors want to see the momentum continuing.
Investors are also awaiting a spate of earnings for clues on whether the AI boom can justify the billions of dollars being poured into the industry. SpaceX is expected to report after the close on Tuesday, followed by Meta Platforms Inc. tomorrow.
“We expect a strong third-quarter tech earnings season from a fundamental perspective, but elevated expectations may lead to company-specific volatility,” said Ulrike Hoffmann-Burchardi at UBS Chief Investment Office.
Corporate Highlights:
Salesforce Inc. agreed to buy Braze Inc., an artificial intelligence-powered platform for marketers, for almost $5.7 billion in enterprise value. 3M Co. topped profit estimates and raised its full-year outlook for the second straight quarter as the maker of Scotch tape and Post-it notes works to rejuvenate its operations. General Motors Co. tumbled as shareholders looked past plans for another $20 billion in stock repurchases and focused instead on a narrower profit outlook reflecting sliding sales. General Electric Co. is working to increase engine deliveries for the 787 Dreamliner as customer Boeing Co. seeks to ramp production of its popular widebody jet. Halliburton Co. is predicting years of growth for oil field service work as nations replenish crude reserves and the Middle East rebuilds infrastructure damaged in the Iran war. RTX Corp. raised its full-year outlook for a third straight quarter as the aerospace and defense manufacturer gets a boost from robust global air travel and rising demand for military hardware. Some of the main moves in markets:
Stocks
The S&P 500 rose 0.7% as of 10:42 a.m. New York time The Nasdaq 100 rose 0.5% The Dow Jones Industrial Average rose 1.3% The Stoxx Europe 600 rose 0.1% The MSCI World Index rose 0.5% Currencies
The Bloomberg Dollar Spot Index fell 0.4% The euro rose 0.3% to $1.1252 The British pound rose 0.7% to $1.3402 The Japanese yen rose 0.4% to 157.90 per dollar Cryptocurrencies
Bitcoin rose 1.5% to $83,180.15 Ether rose 2.7% to $2,463.59 Bonds
The yield on 10-year Treasuries declined six basis points to 5.08% Germany’s 10-year yield declined seven basis points to 3.39% Britain’s 10-year yield declined five basis points to 5.38% Commodities
West Texas Intermediate crude fell 1.6% to $102 a barrel Spot gold rose 0.3% to $4,152.15 an ounce ©2026 Bloomberg L.P.
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