Wall Street rises as chip stocks extend their rebound
The S&P 500 gained 0.60% to 7,722.60 and the Nasdaq 1.18% to 26,477.81 on Tuesday, led by technology shares; the Dow added 0.03%.
Source published · In the Daily Brief of 28 October 2026
Filed under Markets
US stocks closed higher on 27 October, according to Reuters. Chip stocks rose for a third session as details of Anthropic’s planned listing lifted the AI trade, after a month in which concerns over debt-funded AI spending and rising borrowing costs had weighed on the sector. The Philadelphia semiconductor index remains more than 20% below its 22 June record close but is up 62.1% this year, against 12.8% for the S&P 500.
Boeing fell 10.7% after a larger-than-expected third-quarter loss, and Xylem dropped 14.2% after trimming its forecasts, while UPS gained 5.8% after raising its outlook. Energy was the weakest sector as crude prices eased. Nearly half of S&P 500 companies have reported, and 83% have beaten expectations, according to LSEG data. Microsoft and Alphabet report on Wednesday and Amazon on Thursday.