S&P 500 edges up 0.07% as chip rebound offsets software slide
AI Market Summary
US equities were mixed as software weakness (notably DDOG and APP) offset a rebound in semiconductors, leaving the broader index range-bound. Stronger-than-expected US labor and productivity data supported risk appetite but reinforced a hawkish rate backdrop, amplified by reports that Chair Warsh could support a September hike if inflation firms. Higher oil on Middle East shipping risks added inflation pressure, weighing on bonds and rate-sensitive sectors.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT-0.38%
AI Insight · NCSISP5002USD/USDTAI Insight
● Neutral
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US stocks were mixed, with the S&P 500 up 0.07%, the Dow down 0.38%, and the Nasdaq 100 up 0.26%. Software names weighed on the market as Datadog fell 15% after reporting Q2 adjusted gross margin below consensus, and AppLovin slid 19% after missing revenue estimates. A rebound in chipmakers helped limit losses after early pressure tied to a 4% drop in South Korea’s Kospi. The session remained choppy overall.
