Market Brief Midweek: Chip Selloff, Banks & Market Leadership
Chinese chip competition rattled semiconductor stocks, major banks reported mixed results, and the Magnificent Seven continued supporting the S&P 500.
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Oil Supply Risks Keep Energy Prices Elevated as Inflation Pressure Builds
Oil prices remain elevated as Middle East supply threats, a controversial Russian diesel agreement and limited U.S. emergency reserves complicate efforts to lower fuel costs ahead of a closely watched inflation report.
Chinese Memory Chip Breakthrough Triggers Global Semiconductor Sell-Off as Micron and SK Hynix Slide
A memory-chip breakthrough announced by China's CXMT sparked a global semiconductor sell-off, sending Micron, SK Hynix and Samsung lower. Investors are reassessing competition, memory pricing power and crowded AI-related positions.
Magnificent Seven Hold Up the S&P 500 as BTIG Flags Shifting Market Leadership
BTIG Research warns that the Magnificent Seven remain a critical source of support for the S&P 500 as software gains ground on semiconductors and unusual divergences emerge across homebuilders, REITs, utilities and refiners.
Johnson & Johnson's MedTech Slowdown Weighs on Shares Despite Strong Drug Sales and Higher Guidance
Johnson & Johnson shares fell nearly 6% despite stronger-than-expected earnings and raised guidance. Slowing MedTech growth, a $5.5 billion talc litigation charge and plans to separate its orthopedics business drew investor attention.