LIVE MARKETS-Nasdaq ends more than 1% higher as Broadcom gains; Dow posts a record

Apple Inc. AAPL	0.00	0.00%
Broadcom Limited AVGO	0.00	0.00%
Jpmorgan Chase JPM	0.00	0.00%
Microsoft Corporation MSFT	0.00	0.00%
SpaceX SPCX	0.00	0.00%

Nasdaq rallies ~1.1%, S&P 500 up ~0.7%, Dow ends higher by ~0.3%

Comm Svcs leads S&P 500 sector gainers; Healthcare weakest group

Dollar, US crude both ~flat; bitcoin up >1%; gold slips

US 10-year Treasury yield edges down to ~4.47%

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

NASDAQ ENDS MORE THAN 1% HIGHER AS BROADCOM GAINS; DOW POSTS A RECORD

U.S. stocks ended higher on Monday, with the Nasdaq .IXIC gaining more than 1% and chipmaker shares also rising, while the Dow .DJI registered a record closing high.

Shares of chipmaker Broadcom AVGO.O gained 3.7% after the company and Apple AAPL.O agreed to expand their partnership through 2031 to develop and supply a range of custom chips. Apple shares rose 1.3%, while an index of semiconductors .SOX jumped 2.2% after two sessions in a row of sharp losses.

Second-quarter earnings season unofficially starts next week with results from many of the big U.S. banks including JPMorgan Chase JPM.N, but investors will also be focused on chip stocks and other companies related to AI.

Shares of Microsoft MSFT.O were down 1% after the company said it was cutting about 2.1% of its workforce.

Also down 1% were shares of SpaceX SPCX.O, which had a record market debut on June 12. SpaceX is expected to join the Nasdaq 100 .NDX on Tuesday.

Besides the Dow, the S&P 500 Banks Index .SPXBK also scored a record closing high along with the S&P 500 Industrials .SPLRCI index.

(Caroline Valetkevitch)

*****

EARLIER ON LIVE MARKETS:

POSITIVE EARNINGS OUTLOOKS FROM S&P 500 SLIGHTLY OUTPACING NEGATIVE ONES ON Q2 CLICK HERE

RETAIL INVESTORS ARE BACKING STOCKS — AND A KEY CONTRARIAN SIGNAL IS NEARING A THRESHOLD CLICK HERE

SOFT SERVE: SERVICES SECTOR LOSES SOME OOMPH CLICK HERE

NASDAQ, S&P 500 CLIMB EARLY WITH CHIPS, TECH CLICK HERE

ROBOTAXIS — A $1 TRILLION MARKET OPPORTUNITY BY 2040 CLICK HERE

BENCHMARK TREASURY YIELD REMAINS COILED WITH VOLATILITY NEAR MULTI-DECADE LOW CLICK HERE

WHY THE RALLY MAY KEEP RALLYING CLICK HERE

MORE AUTO PROFIT WARNINGS MAY BE COMING CLICK HERE

AN INDEX OF AI HEALTH JUST FELL INTO A BEAR MARKET CLICK HERE

KEEPING THE GAINS GOING CLICK HERE

EUROPE BEFORE THE BELL: LOTS OF BIG DEAL NEWS CLICK HERE

SAMSUNG TO SERVE CHIP TASTER FOR EARNINGS FEAST CLICK HERE

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.