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Stock market today: Dow, S&P 500, Nasdaq rise as semiconductor stocks trim losses
Yahoo! Finance Canada • • business
Key Points:
- US stock markets showed mixed movements on Wednesday, with the Dow Jones rising 0.3%, the S&P 500 up 0.4%, and the Nasdaq Composite gaining 0.6%.
- Wholesale inflation slowed more than expected in June, aligning with recent Consumer Price Index data that indicated the largest monthly inflation drop since April 2020.
- ASML, a chip equipment maker, raised its annual sales forecast due to strong AI demand and plans to boost production capacity by 30%, but chip stocks overall declined.
- Memory chip manufacturers Micron Technology and SK Hynix saw their shares fall over 7%, despite ASML's positive outlook.
- Rising oil prices and geopolitical tensions, including President Trump's statements on Iran, added some market pressure despite inflation easing.
