U.S. stocks finished mixed on Tuesday, with the Nasdaq Composite rising 0.45% to break above its previous high set on June 1 and reach a fresh record. The S&P 500 was little changed and remained close to its record level, while the Dow Jones Industrial Average fell 0.4%. Chipmakers, artificial-intelligence hardware companies and infrastructure stocks led the advance, with Sandisk and Micron Technology breaking above short-term highs. Financial shares declined, with Cisco Systems, Charles Schwab and JPMorgan Chase among the stocks weighing on the Dow.
In after-hours trading, Dow futures were little changed, S&P 500 futures showed limited movement and Nasdaq 100 futures edged lower. Overnight futures moves do not necessarily predict the direction of the next regular session, leaving investors focused on whether gains in technology shares can broaden into other parts of the market.
Chip Stocks Push the Nasdaq to a Record
Micron Technology rose 5% to close at 1,096.16, while Sandisk gained 6.8% to finish at 1,887.04. Both stocks moved above short-term highs and produced early entry signals after emerging from relatively deep consolidation patterns. Each had already triggered a trendline entry signal on Friday.
Storage-chip peers Seagate Technology and Silicon Motion Technology also moved close to trendline entry levels. The semiconductor group strengthened broadly, lifting the VanEck Semiconductor ETF by 1.9%; Micron is one of the fund's significant holdings. Artificial-intelligence hardware and infrastructure stocks generally extended their gains, while software shares retreated overall after advancing on Monday.
Biotech Stocks Move Into Buy Areas
Healthcare shares also posted a series of gains. Guardant Health rose 1.9% to 177.16, reclaiming the 176.58 buy point from a flat-base pattern. TG Therapeutics gained 1.7% to 58.11, moving back above the 57.90 buy point of a cup-with-handle pattern. The 58.47 level could also serve as a new or alternative handle entry.
Omeros climbed 13.85% to 21.05, moving back above a short-term consolidation zone built on top of a long, deep base. The company is already generating sales and has reported a profit. Guardant Health was included on a leading-stock watchlist, while Micron, TG Therapeutics and Guardant Health appeared on the IBD 50 list. Micron was also designated as a stock in focus for the session.
Biotechnology ETFs and several individual names also showed buy signals. The ARK Genomic Revolution ETF rose 2.05%, the ARK Innovation ETF gained 1% and the Health Care Select Sector SPDR Fund advanced 0.5%.
Oil Extends Its Decline to Five Sessions
In commodities, U.S. crude futures fell 1.2% to $94.59 a barrel, extending their cumulative decline over the past five sessions to 10.6%. News surrounding relations between the United States and Iran at times influenced sentiment in the energy market. Comments describing talks between representatives of the two sides as “very productive” eased some concerns, while the possibility that Saudi Arabia's east-west oil pipeline could resume operations soon also weighed on prices.
Gold prices fell, and copper retreated from its early high, although gold and copper mining stocks still advanced. The SPDR Metals & Mining ETF rose 2.7%, while the Energy Select Sector SPDR Fund declined 1.1%. The yield on the 10-year U.S. Treasury briefly dropped below 4.93% before settling nearly flat near 4.97%.
Financials and Small Caps Continue to Lag
Financial stocks remained weak, with the Financial Select Sector SPDR Fund falling 2%. Charles Schwab, JPMorgan and other wealth-management shares broadly declined. Renewed discussion about the potential effects of artificial intelligence on financial services and wealth-management operations added pressure to the group.
The Russell 2000, a benchmark for small-cap stocks, rose 0.5% but closed well below its intraday high and remained clearly below its 50-day moving average. The equal-weighted S&P 500 ETF posted only a modest gain and finished near the session low, also below its 50-day average. Growth stocks performed better: the CapForce IBD 50 ETF rose 0.1%, the Software ETF fell 0.35% and the Industrial Select Sector SPDR Fund gained 0.2%.
The market remains defined by leadership from technology and growth shares alongside uneven performance beneath the major indexes. The Nasdaq remains elevated after its latest advance, but the Dow, small-cap stocks and the equal-weighted S&P 500 have yet to return to similarly strong positions. Market participants will be watching the breadth of gains in chip and artificial-intelligence stocks, the continued weakness in financials and whether more individual stocks can break out decisively after consolidating.