Nasdaq-100 surges on chip rally while Dow slips

The S&P 500 edged up 0.32% and the Nasdaq-100 jumped 1.35%, while the Dow lagged with a -0.46% decline. The Russell 2000 gained 0.89% and the VIX fell 9.01% to its lowest recent level, with 1,418 Breadth positive (7,152 advancers vs 5,132 decliners).

Semiconductors led sectors, up 3.90%, followed by Technology (+1.56%) and Communication Services (+0.41%). Staples lagged, down -1.28%, with Real Estate (-0.79%) and Financials (-0.64%) also soft.

Among individual names, ABNB led gainers at +11.67%, with VST (+10.72%) and AMD (+10.60%) also sharply higher. On the downside, AXON tumbled -17.75%, and MCHP dropped -10.25%.

News flow included coverage of Broadcom's expanding AI revenue, SK Hynix updates with implications for Micron shareholders, and an Amazon announcement from CEO Andy Jassy, alongside several corporate buyback and legal-notice items. Gold (GLD) slipped -0.79% and the 20-year Treasury (TLT) was roughly flat, down -0.04%.