The Dow Couldn't Keep Up With Chip Stocks on Monday

Chip stocks led Monday’s rally, lifting the Nasdaq and S&P 500 while the Dow lagged near flat. By 12:48 p.m. ET, the Nasdaq Composite rose about 1.3% and the S&P 500 gained roughly 0.7%, while the Dow Jones Industrial Average slipped around 0.1% after briefly touching an intraday record. The iShares Semiconductor ETF advanced 4.1%, recovering from a two-week losing streak. Broadcom climbed about 4.4% after announcing its chip supply deal with Apple would extend through 2031, adding roughly $78 billion in market value. Advanced Micro Devices surged about 8% following commentary from Japanese startup Turing, while Nvidia rose modestly despite no specific catalyst.