NEW YORK, June 8, 2026, 20:01 EDT
- Nasdaq rose 0.86% as chip names rebounded from Friday’s slide. The Dow slipped 0.16%.
- After-hours index funds were little changed with trading winding down.
- Traders are watching for the May CPI report on Wednesday, which they see as the next key data point for the AI trade.
Most U.S. stocks finished up on Monday, with little change in post-market trading. Chip stocks rallied, helping the Nasdaq recover some of its losses from Friday, while the Dow lagged.
The Nasdaq Composite jumped 220.23 points, or 0.86%, to 25,929.66. The S&P 500 gained 21.99 points, up 0.30% at 7,405.73. But the Dow Jones Industrial Average lost 80.77 points, a drop of 0.16% to 50,786.01. The Philadelphia SE Semiconductor Index climbed 5.6%. S&P 500 tech shares rose 1.5%.
AI stocks, which have led the market this year, slipped in Friday’s decline. Traders were watching where the drop would go, wondering if it was just a pause or the start of something bigger. “Bargain hunting” was the phrase from Rick Meckler at Cherry Lane Investments as buyers stepped in after tech sold off. But Meckler also said with prices near perfection, markets could still make a sharp move. Reuters
Nasdaq after-hours trading ran from 4 p.m. to 8 p.m. ET after the main market closed. Late in that window, SPY, which tracks the S&P 500, edged up 0.01%. QQQ, the Nasdaq 100 tracker, gained 0.02%. DIA, which follows the Dow, slipped 0.04%.
Qualcomm moved higher after hours, adding 3.69% to $225.80. Solventum fell 9.33% to $71.41, while Targa Resources dropped 4.97% to $251.00, according to Investing.com’s after-hours scoreboard. Meta Platforms, Microsoft, Broadcom, Nvidia, and Apple all saw strong volume.
Intel surged 11.2% after The Information reported Google ordered more than 3 million tensor processing units for 2028. Marvell Technology rose 9.6% before its addition to the S&P 500. Broadcom was up 2.8%. Traders last week questioned if chip stocks were getting pricey after earnings.
Apple trailed other big techs again. Shares fell 1.9%. The company had rolled out new AI tools for Siri at its Worldwide Developers Conference. Bruce Zaro at Granite Wealth Management called it a “sell-on-the-news” drop, saying investors still view Apple as lagging behind on AI versus other tech names. Reuters
Investors will get the latest Consumer Price Index from the Bureau of Labor Statistics on Wednesday, June 10, at 8:30 a.m. ET. The May report is the next key inflation readout.
New York Fed survey in May showed one-year inflation expectations down to 3.5% from 3.6%. Expectations for three years and five years out were steady at 3.1% and 3.0%. The data also pointed to households feeling worse about credit access and their finances.
Citi raised its S&P 500 target for the year to 8,100 from 7,700, crediting stronger earnings and AI investment as the main reasons behind the move. Bank strategists warned, though, that there are still concerns over how long AI-driven growth can last past 2027, calling it a caveat following the recent drop in chip stocks. Wall Street is still staying in the trade.
Stocks bounced Monday but that might not last if gains stay limited. A strong CPI could push Treasury yields higher and renew concerns that the Fed will keep rates up. Ongoing tensions in the Middle East may keep oil and inflation under pressure. Fabien Yip, market analyst at IG, said leveraged trades and the upcoming inflation report could drive more swings in growth stocks soon.
Stocks remain on edge after last Friday’s slide. The Dow finished off 1.35%, the S&P 500 dropped 2.64%, and the Nasdaq fell 4.18%. Chip names posted their sharpest daily fall since March 2020. Fresh payrolls numbers renewed rate-hike fears.
