Tech Stocks Rebound as Chipmakers Lift Mixed Market
Stocks rose Tuesday as chipmakers rebounded, breaking a three-day losing streak while voters cast midterm ballots.
2.3% gain for Nvidia after four straight losing sessions.
1.9% drop for Apple as memory chip costs squeeze its margin outlook.
10% below its Oct. 6 record, the Nasdaq had entered correction Monday.
Most stocks in the S&P 500 fell despite the index's gain.
Why it matters: The rebound followed weeks of worry that AI stock prices had climbed too high. Apple's results showed the AI boom raising costs even for less AI-dependent firms.
Some investors expect Democratic gains could bring more AI and data center restrictions.
Goldman Sachs strategists see tax incentive cuts as possible, a national moratorium unlikely.
$103.60 Brent settle came amid reports of progress in US-Iran mediation.
Left coverage, 2 sources: The left frames the day around AI spending jitters and Big Tech's outsized pull on the market, with cost of living weighing on voters.
Right coverage, 2 sources: The right frames it as a mixed session dominated by geopolitical headlines, especially US-Iran negotiations and strike planning.
