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Stocks took a wild ride on Tuesday. Shares rose at the open before a midday selloff, then made up some ground toward the end of the session. The Nasdaq composite fell about 1%, and the S&P 500 declined 0.
Shares of Marvell Technology, computer memory-maker Micron Technology and Advanced Micro Devices all fell sharply. Many investors may be moving portfolios out of stocks that have risen strongly this year to free up cash for the SpaceX IPO expected this week. Existing home sales in May came in ahead of forecasts.
MANGOS — no, not the tropical stone fruit — is the latest Big Tech acronym to be at the top of investors' minds ahead of 2026's biggest IPOs. MANGOS consists of Meta Platforms (META), Anthropic (ANTH.PVT), Nvidia (NVDA), Alphabet (GOOG, GOOGL), OpenAI (OPAI.PVT), and SpaceX (SPCX, SPAX.PVT). Yahoo Finance Senior Business Reporter Ines Ferré explains the latest AI tech groupings being coined by Wall Street analysts.
Micron led the semiconductor chips lower after an initial bounce on Tuesday.
By Mike Dolan June 9 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets Relief rally, dip-buying or a dead cat bounce?
<body><p>STORY: U.S. stocks ended mostly higher Monday boosted by shares of chip companies.</p><p>While the Dow fell slightly, the S&P 500 added three tenths of one percent and the Nasdaq climbed about nine tenths.</p><p>:: Intel</p><p>Intel shares jumped 11% after news website The Information reported that Alphabet's Google had placed an order to manufacture more than 3 million tensor processing units in 2028.</p><p>:: Marvell Technology</p><p>And shares of Marvell Tech rose 9.5% after S&P announced that the company would be added to the S&P 500 index later this month.</p><p>Also, Iran and Israel said they had halted attacks on each other.</p><p>This came after an appeal from U.S. President Donald Trump that they immediately "stop shooting." </p><p>The attacks over 24 hours were the most direct confrontation between Iran and Israel since an April ceasefire in the war.</p><p>Justin Livengood, senior portfolio manager with Invesco, says he thinks regardless of when there is an end to the conflict in the Middle East, energy prices could stay higher, which could lead the Federal Reserve to raise interest rates.</p><p>“Inflation's been drifting up in general the last six to nine months, not just for oil prices but even for core elements. And that's a concern. I think that concern persists as oil and natural gas prices linger higher. And the longer that persists, the more likely we are to have a Fed feel they need to raise rates late this year. I certainly feel that right now the base case for the Fed is a hike, not a cut, as their next move. And I think with each week and month that this Middle East conflict continues. The odds of that hike get pulled forward.” </p><p>:: Apple</p><p>Other stocks on the move included Apple which dropped almost 2% after announcing a Siri revamp at its annual Worldwide Developers Conference.</p><p>:: AWS</p><p>And shares of Corning gained 5.5% after Amazon announced a multi-year multi-billion-dollar deal to buy the company's optical fiber and cables for its data centers. </p></body>
Micron Technology (MU) has been a standout name in the artificial intelligence trade for most of 2026, with its stock gaining an explosive 173.92% since the beginning of the year. It crossed $1 trillion in market value in late May. And then, things changed. Over two trading days, a large piece of ...
On this episode of Stock Movers with Alexis Christoforous: - Shares of The Campbell's Company (CPB) edged higher ahead of the US market open after the canned soup maker reported adjusted earnings per share for the third quarter that beat the average analyst estimate. - Eli Lilly (LLY) shares gained in the early session following obesity drug presentations at the American Diabetes Association conference. Citi analysts say their conviction on Lilly is firmly intact, given the company's incretin portfolio is "not built around singular blockbusters." - Shares of Marvell Technology (MRVL) and Flex (FLEX) are rising in premarket trading as the companies are set to replace Pool Corp. and Campbell's in S&P 500 before the market open on June 22, S&P Dow Jones Indices says in emailed statement.
Marvell Technology shares climbed more than 7% in premarket trading on Monday after the chipmaker was set to join the benchmark S&P 500 at the end of June, in the latest boost to a stock that has surged recently. Its shares have gained about 59% since May 27 after the company forecast its custom-chip business would surpass $10 billion in revenue in fiscal 2029 and Nvidia CEO Jensen Huang called Marvell the next "trillion-dollar company." The stock dropped 16.7% in regular trading on Friday amid a broader selloff that wiped out $1.3 trillion in market value for the chip sector.
The AI chipmaker will join the benchmark index on June 22 as part of a quarterly rebalance, alongside electronics manufacturer Flex
Three trading days earlier, Marvell Technology (MRVL) had the market in awe. Nvidia chief executive Jensen Huang had stood on a stage in Taipei and called the chip designer “the next trillion-dollar company.” Traders responded by handing the stock its biggest one-day gain ever. By Thursday’s close, ...
Markets face a pivotal week marked by a significant structural shift away from richly valued AI and technology stocks toward lagging sectors, evident in Friday's steep Nasdaq and S&P 500 plunges that signal investor rotation and risk reassessment.
Investing.com -- Marvell Technology Inc (NASDAQ:MRVL) shook off a sharp two-day slump in postmarket trade Friday following the announcement of its upcoming inclusion in the bellwether S&P 500 index. Shares of the semiconductor company bounded 6% higher in after-hours trade as S&P Dow Jones Indices revealed the changes for its quarterly rebalance. The index addition caps a highly volatile week for Marvell, which initially went on a tear after Nvidia CEO Jensen Huang called it the next "trillion-d
Marvell Technology is set to join the benchmark S&P 500 later this month, S&P Dow Jones Indices said on Friday, after the chipmaker cleared a key profitability hurdle riding an AI-fueled rally. The company will replace swimming pool equipment distributor PoolCorp on the benchmark index before the start of trading on June 22. Marvell's shares have more than tripled so far this year, bolstered by a broader rally in chip stocks on hopes for robust AI-related demand.
The long-awaited SpaceX IPO next week positions the company at roughly $2 trillion in market value. On CNBC’s Morning Call Sheet on Friday, June 5, Adam Kobeissi, Editor in Chief of The Kobeissi Letter, strategist Matt Powers, and Senior Economist Jose Torres argued the deeper story is a rotation out of AI semiconductor leaders into ... SpaceX IPO Hype Is Hiding a Deeper Story. Investors Are Rotating Back Into Blue Chip Stocks.
Major stock indexes fell sharply after a strong jobs report set the stage for the Federal Reserve to hike rates.
June S&P 500 E-Mini futures (ESM26) are down -0.31%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.88% this morning as investors continue to pull back from the AI trade, while cautiously awaiting the key U.S. jobs report.
Most chip stocks stayed lower today after Broadcom's guidance sparked a slump in the industry, but Marvell Technology wasn't one of them. The company, which recently got a high-profile endorsement from Nvidia CEO Jensen Huang, saw its shares bounce back Thursday to finish 4.
A single comment from Nvidia chief executive Jensen Huang added tens of billions of dollars to Marvell Technology’s (MRVL) market value in one trading session. Huang predicted that Marvell would become the next company to reach a $1 trillion valuation. Traders reacted instantly, pushing the stock ...
Broadcom shares fell Thursday despite a better-than-expected earnings report, leading other chip stocks lower.
