NEW YORK, July 1, 2026, 20:03 (EDT)
- Major U.S. index ETFs edged lower in late after-hours. SPDR S&P 500 ETF Trust NYSEARCA:SPY, Invesco QQQ Trust NASDAQ:QQQ and SPDR Dow Jones Industrial Average ETF Trust (NYSEARCA:DIA) were each off 0.12% to 0.13% near session’s end.
- The S&P 500 slipped 0.22%, the Nasdaq was down 0.66% and the Philadelphia Semiconductor Index shed 6.3% in regular trading.
- MarketWatch’s after-hours screen had 19 of its 20 most active stocks trading in a tight range, with less than 1% moves. Micron Technology NASDAQ:MU was the only one to break out of that, moving more than 1%.
U.S. stock ETF proxies slipped in after-hours trade Wednesday, but losses were lighter than the chip selloff during the main session. SPY last changed hands at $744.85, off 0.12%. QQQ traded at $724.24, down 0.13%. DIA was down 0.13% to $521.72 near 7:52 p.m. ET, according to Investing.com. Nasdaq’s after-hours session runs from 4 p.m. to 8 p.m. ET.
Stocks closed lower in the regular session. The Dow dipped 13.96 points, or 0.03%, ending at 52,305.24. The S&P 500 dropped 16.13 points, or 0.22%, to 7,483.23. The Nasdaq Composite finished down 173.69 points, or 0.66%, at 26,040.03. Reuters said chipmakers lagged behind, pulling the Philadelphia Semiconductor Index down 6.3%. Meta Platforms NASDAQ:META gained 8.8% after a Bloomberg story on a cloud venture.
| Gauge | Regular session | After-hours proxy |
|---|---|---|
| S&P 500 / SPY | 7,483.23, down 0.22% | $744.85, off 0.12% |
| Nasdaq Composite / QQQ | 26,040.03, fell 0.66% | $724.24, slipped 0.13% |
| Dow / DIA | 52,305.24, down 0.03% | $521.72, fell 0.13% |
AT&T NYSE:T topped MarketWatch’s most-active after-hours list, with 17.05 million shares trading and a gain of 0.05%. NVIDIA NASDAQ:NVDA came in second, slipping 0.17%. PayPal Holdings NASDAQ:PYPL edged up 0.09%, while Cisco Systems NASDAQ:CSCO dropped 0.23%. Comcast NASDAQ:CMCSA was unchanged. Among the top 20 by volume, the median absolute move was about 0.08%.
| Company | After-hours price | Volume | Change |
|---|---|---|---|
| AT&T NYSE:T | $20.49 | 17.05 mln | up 0.05% |
| NVIDIA NASDAQ:NVDA | $197.25 | 11.74 mln | off 0.17% |
| PayPal Holdings NASDAQ:PYPL | $44.11 | 9.32 mln | added 0.09% |
| Cisco Systems NASDAQ:CSCO | $116.74 | 9.14 mln | fell 0.23% |
| Comcast NASDAQ:CMCSA | $23.73 | 7.04 mln | flat |
| JPMorgan Chase NYSE:JPM | $333.99 | 6.22 mln | dipped 0.02% |
| Super Micro Computer NASDAQ:SMCI | $27.91 | 3.84 mln | rose 0.94% |
| Micron Technology NASDAQ:MU | $1,021.01 | 3.49 mln | dropped 1.09% |
That split matters to investors. A chip selloff paired with positive breadth points to a concentration issue. Broader selling would hit harder right before payrolls and the long weekend. Reuters reported that advancers led decliners 1.07-to-1 on the NYSE and 1.16-to-1 on Nasdaq. U.S. exchange volume came in at 19.71 billion shares, under the 20-session average of 23.36 billion.
Valuation concerns are still in play. “All measures of asymmetry and risk are flashing amber,” Oliver Shale, investment specialist for the U.S. at Ruffer, told Reuters in a June 30 note. BofA Global Research’s Bubble Risk Indicator was at 0.91 for semiconductors and 0.82 for tech. The S&P 500 price-to-sales ratio came in at 3.22, well above the long-run average of 1.84, LSEG data showed, according to Reuters. Reuters
JJ Kinahan, who heads retail expansion and alternative investment products at Cboe Global Markets, told Reuters that buyers of chips and AI gear “still have to prove” the spending is justified. The comment followed a session where Micron sank 10.4% during regular hours and another 1.09% after the bell. NVIDIA also slipped, losing 1.25% in the session and 0.17% after hours. Reuters
The macro numbers offered bulls a bit of support but didn’t open things up much. U.S. manufacturing PMI slipped to 53.3 in June from May’s 54.0, though it stayed over 50. Private payrolls increased by 98,000 after gaining 122,000 in May. Planned layoffs were down 53% to 45,849. “The manufacturing sector still seems to be in relatively good health,” said Oliver Allen, senior U.S. economist at Pantheon Macroeconomics. Reuters
Nike NYSE:NKE climbed 5.1% after it posted quarterly numbers, standing out among non-tech stocks. CEO Elliott Hill admitted to investors the “results aren’t there yet” and said Nike isn’t “living up to our full potential,” according to Investing.com. Alcoa NYSE:AA dropped 8.9% as Australia’s South32 ASX:S32 said it will sell most of its aluminum business to the company. Investing.com
Thursday brings the payrolls number. A Reuters poll is looking for nonfarm payrolls to add 110,000 after rising 172,000 in May, with unemployment unchanged at 4.3%. Nasdaq will be closed Friday, July 3, for the Independence Day holiday.
