Verizon Rises 3% as Transports Soar 3.6% and Semis Strike 12th Win
Verizon shares rose 3% during a volatile session that saw the S&P 500 and Nasdaq Composite notch record highs, the Dow add 83 points and the Russell 2000 remain near flat. Transports jumped 3.6% to a new peak and the Philly Semiconductor Index extended its 12th straight gain.
1. Choppy Session with Record Highs
The S&P 500 and Nasdaq Composite both reached intraday record highs amid choppy trading, while the Dow added 83 points and the Russell 2000 hovered just below breakeven.
2. Verizon Shares Jump 3%
Verizon stock outperformed peers with a 3% gain as communication services joined broader market strength, supported by 2% and 6% rises in IBM and AMD, respectively.
3. Sector Leadership Shifts
Transports led all sectors with a 3.6% surge to a fresh record high, the Philly Semiconductor Index extended its 12-day winning streak, and software ETF IGV rallied nearly 13% over the past week versus a 5% climb in semiconductors.