Sentiment Rises, PMI Cools: Wall Street Remains Hesitant
Wall Street closed Friday's trading session (January 23rd) mixed. The S&P 500 edged up 0.1%, the Nasdaq 100 added 0.3%, while the Dow Jones Industrial Average fell 0.6%. Pressure came primarily from the financial and utilities sectors, while energy performed stronger and helped cushion the broader market decline.
The chip sector took center stage. Nvidia rose about 1.5% and once again supported the Nasdaq after signals from China that domestic technology companies could begin preparing to order H200 AI chips. AMD also rose 2.3%, confirming the shift in investor interest toward large technology stocks still considered strong catalysts.
However, semiconductor sentiment was not entirely smooth. Intel plunged 17% after releasing weaker-than-expected projections and confirming that operational challenges were not over. Intel's decline made the market more selective: those with a "story" rose, while those who disappointed were immediately punished.
On the other hand, Broadcom fell 1.7%, limiting the room for movement in large-cap technology. This mixed movement confirms the market's lack of comfort in taking significant risks, even though the Nasdaq appears relatively resilient.
Macroeconomic data also provided mixed signals. The University of Michigan consumer sentiment was revised up to a multi-month high, but the S&P Global PMI signaled a mild cooling in services and manufacturing. Weekly, the S&P 500 fell 0.5% and the Dow fell 0.6%, while the Nasdaq remained up 0.2%—a reflection of a market that remains cautious after the volatility of the past few days.
Source: Newsmaker.id
