US Stocks-Wall St falls as tech earnings spark AI spending worries; oil hits $100
SPY•Chip stocks and other movers
Recently volatile chip stocks were also lower with the Philadelphia semiconductor index .SOX off 1.2%. Texas Instruments TXN.O fell 4.5% despite forecasting quarterly revenue above estimates. Thermo Fisher Scientific TMO.N shares jumped 9% after the medical equipment maker raised its annual profit forecast and beat estimates for second-quarter results.
Declining issues outnumbered advancers by a 3.35-to-1 ratio on the NYSE, where there were 69 new highs and 323 new lows. On the Nasdaq, 1,203 stocks rose and 3,430 fell as declining issues outnumbered advancers by a 2.85-to-1 ratio. The S&P 500 posted 17 new 52-week highs and 13 new lows while the Nasdaq Composite recorded 37 new highs and 147 new lows.
Sector moves and notable stock reactions
Among the S&P 500's 11 major industry sectors, only four were advancing with the biggest gain in industrials .SPLRCI, up 1.5%. Big gainers included defense giant Lockheed Martin LMT.N which rose 9.7% after lifting 2026 sales and profit forecasts.
