U.S. stocks on the move: Nike, Synopsys, Intel
SPY•The S&P 500 rose 0.49% and the Nasdaq gained 0.72% as of 12:12 EDT, while the Dow was nearly flat. Intel shares fell after Elon Musk discussed TSMC and Terafab; Synopsys rose after a $1 billion share repurchase agreement, and Nike fell after an S&P rating cut.
1. Indexes advance
The S&P 500 rose 0.49% to 7,760.29 and the Nasdaq Composite gained 0.72% to 27,385.44 at 12:12 EDT on Monday. The Dow Jones Industrial Average was down 0.01% at 51,172.55.
2. Company moves
Intel shares fell after Musk's TSMC-Terafab talk. Synopsys rose after a $1 billion share repurchase agreement. Nike fell after S&P cut its rating to A with a negative outlook, citing a “protracted” turnaround.
3. Market backdrop
Most megacap and growth stocks advanced, while risk sentiment remained in check as Treasury yields held near multi-year highs.
