Nasdaq Index: Chip Stocks Lift Tech as Soft CPI Boosts US Stocks

• Nasdaq rose 0.70% to 26,054.98, S&P 500 gained 0.20% to 7,530.54, while Dow fell 0.19% to 52,399.39 as IBM dragged on the blue-chip index
• June CPI data came in softer than expected on both headline and core measures, causing Treasury yields to drop and nearly eliminating market expectations for a July rate hike
• Semiconductor stocks rallied including Micron (+5.26%), Applied Materials, and Lam Research, while Goldman Sachs surged on strong earnings and crude oil pulled back after Trump reversed a 20% Hormuz cargo fee

Market Summary: Soft CPI Data Boosts Tech Stocks While Dow Lags

Key Market Movements (July 14, 2026 mid-session):

• Nasdaq Composite: +0.70% to 26,054.98 (+181.81 points)
• S&P 500: +0.20% to 7,530.54 (+15.20 points)
• Dow Jones: -0.19% to 52,399.39 (-99.25 points)

CPI Impact:

June CPI data came in softer than expected on both headline and core measures, with monthly figures falling harder than forecast. This development reduced July rate hike odds from 42% to 17%, effectively taking a July increase off the table. September remains a live decision. Fed Chair Warsh maintained a hawkish stance in Congressional testimony, emphasizing inflation remains the priority with no easing signals.

Sector Performance:

Chip stocks led the tech rally, with semiconductor names including Applied Materials, Teradyne, Lam Research, Micron (+5.26%), and STMicroelectronics posting gains. The VanEck Semiconductor ETF rose accordingly. Financials performed well, with Goldman Sachs surging on strong earnings, while Bank of America and Wells Fargo beat expectations.

Notable Movers:

IBM plummeted 24.83% after warning of second-quarter profit misses, weighing heavily on the Dow. Healthcare, consumer staples, energy, and real estate sectors traded lower. JPMorgan beat estimates but slipped slightly.

Commodity Market:

Crude oil pulled back from above $80/barrel after President Trump withdrew a proposed 20% Hormuz cargo fee, replacing it with increased Gulf nation trade agreements.

Technical Outlook:

The S&P 500 remains above key support at 7,429-7,474 and its 50-day MA (7,446). The Nasdaq needs to reclaim its 50-day MA at 26,097 to confirm rally sustainability.