The S&P 500 Index ($SPX) (SPY) on Thursday closed unchanged, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.14%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.61%. September E-mini S&P futures (ESU26) fell -0.25%, and September E-mini Nasdaq futures (NQU26) fell -1.82%.
Stock indexes erased early gains on Thursday and settled mixed, with the S&P 500 posting a 2-week high and the Dow Jones Industrial Average hitting a new all-time high. Chipmakers sold off for a second day on Thursday, weighing on the broader market and dragging the Nasdaq 100 sharply lower. Chipmakers opened lower on Thursday after South Korea’s Kospi Index fell more than -7% to a 3-week low, led by a plunge in SK Hynix and Samsung Electronics on renewed doubts over the sustainability of the AI buildout boom. Chipmakers also had some negative carryover from Wednesday, when Meta Platforms said it plans to sell computing power, raising questions about excess AI capacity.
