Stock Market Midday, Oct. 19: Tech Stocks Rebound as AI Confidence Returns

As of 11:34 AM ET, the S&P 500 is up 0.85% to 7,725, and the Nasdaq Composite has climbed 1.67% to 26,576. The Dow Jones Industrial Average is trading 0.15% higher at 52,094. Gold has fallen 0.51% to $4,145.56, and the 10-Year Treasury yield has gained 3 basis points to 5.13%. Real estate and consumer defensive stocks saw the biggest losses, while consumer cyclical and tech led sector gains. Sandisk soared 7.4% and Micron Technology gained 4.7% as a shift in memory sentiment boosted semiconductor stocks. Intel climbed after a JPMorgan upgrade, and Amazon rose on cloud optimism after Morgan Stanley lifted its price target; NRG Energy declined as utilities underperformed. Chip stocks rebounded as investors reengaged with AI firms, and CoreWeave was in the green despite last week’s debt-yield concerns. U.S. homebuilder confidence fell to a 14-year low, pressuring real estate names. Violent protests in France and Italy and elevated oil prices weighed on European equities. Market participants will be watching earnings from Meta Platforms, SpaceX, and Tesla for signs of demand and capex returns.