Wall St choppy as megacap losses offset chip gains before Fed decision

What happened

US stocks wavered as Tesla and Apple losses offset chipmaker gains after SK Hynix reported strong results. Micron rose 4.8%, while the Dow gained 73.40 points and the S&P 500 rose as investors awaited the Federal Reserve decision.

Confirmed

Global impact / market context

Chip gains show strong memory-chip demand can lift semiconductor shares, while megacap weakness caps index gains. Hyperscaler earnings and the Fed rate decision can shift capital spending plans and how investors value technology stocks.

Analyst inference

The Nasdaq has risen about 2% this week after a weak first half of the month, helped by improved AI sentiment. Six of 11 S&P 500 sectors advanced, led by communication services, while real estate lagged.

Analyst inference

What to watch

1. SK Hynix reported a more than sevenfold jump in quarterly profit, and its US-listed shares gained 10.6%, helping lift chipmakers including Micron. Confirmed
2. Hyperscaler earnings later in the day could show whether large cloud companies keep raising AI-related capital spending, which affects chip demand and technology stocks. Analyst inference
3. The Federal Reserve's interest-rate decision may guide whether borrowing costs change, affecting company costs, cash available, and investor positioning across sectors. Proposed

Evidence

• Original source link unavailable