Nasdaq-100 Rises 3.3% Today; Chip Stocks Rally as Semiconductor Index Surges 7.9%

Today, June 11, the Nasdaq-100 surged 3.3%, with semiconductor and chip stocks leading gains. SanDisk rose 14.5%, Onto Innovation climbed 13.4%, while Arm Holdings, Micron, and Lam Research each gained at least 11.4%. Applied Materials, Marvell Technology, and ASML ADR rose at least 9.6%. Intel and AMD each gained at least 8.1%. The Philadelphia Semiconductor Index advanced 7.9%.

The S&P 500 rose 1.7%, with materials, industrials, and technology sectors up 3%, and consumer discretionary up 2.3%. Energy declined 1.9%. Notable decliners included Adobe, down 6.1%, and Autodesk, down 6.7%. Honeywell and Boeing led Dow Jones component gains with rises of 6.6% and 5.7% respectively.