Nasdaq rises as AI and semiconductor stocks recover ahead of earnings
Photo: Crypto Briefing
Chipmakers bounced back from their longest losing streak since October 2008, but questions about AI spending still hang over the sector The Nasdaq Composite climbed 1.11% on Oct. 19, adding 290.85 points to close at 26,430.89. The Philadelphia Semiconductor Index rose about 1.6% to 2% on the session. That gain matters because of what came before it. The index had dropped 15.7% over eight straight trading days, its longest losing streak since October 2008. Intel gained 2.4% after J.P. Morgan upgraded the stock to “neutral” from “underweight.” CoreWeave told a different story.
Source: Crypto Briefing
