Market
August 6, U.S. stocks closed mixed with the Dow Jones Industrial Average up 0.49%, the S&P 500 down 0.17% and the Nasdaq Composite off 0.83% as investors rotated out of megacap tech into cyclicals ahead of key inflation data. Profit-taking in chipmakers and cloud platforms outweighed strength in select consumer and industrial names, leaving broader indices little changed after a volatile session.
Semiconductors led declines while individual winners stood out. Advanced Micro Devices falls 7.04% after a cautious AI chip outlook, Western Digital slides 5.36% on weak memory pricing signals and Alphabet class C drops 4.05% amid regulatory worries. Tesla sheds 1.77% and Amazon.com slips 1.72% as higher bond yields pressured growth multiples, while Microsoft eases 1.09%. On the upside, Shopify jumps 16.98% on upbeat merchant revenue guidance and Nvidia climbs 3.43% after bullish commentary from a major broker.
Outside the megacaps, several niche plays saw outsized moves. The inverse-chip ETF SOXS rises 6.50% as traders hedge sector exposure, Chinese edtech newcomer Jianzhi Education surges 22.17%, biotech Adagene adds 16.21%, while Antelope Enterprise plunges 25.42% on a dilutive share issue. Semiconductor supplier Silicon Motion falls 8.13% and Taiwanese foundry United Microelectronics drops 6.50% on reports of slower handset demand.