New York, June 9, 2026, 11:03 EDT
Dow, S&P 500 edge up, Nasdaq slips in midday trade
U.S. stocks were mixed late Tuesday morning. The Dow and S&P 500 held small gains, while the Nasdaq slipped after a rebound in artificial-intelligence shares and ahead of another inflation readout this week. Delayed LSEG data from Reuters showed the S&P 500 up 0.22% at 7,421.81, the Dow up 0.30% at 50,940.88, and the Nasdaq down 0.03% at 25,921.29.
Wall Street is looking to recover after tech stocks dropped hard late last week. Now investors are waiting for May’s Consumer Price Index from the Labor Department, expected at 8:30 a.m. EDT Wednesday.
Tech was still in focus. Reuters said Intel, Broadcom and Micron picked up between 1.5% and 3.2%. The Philadelphia semiconductor index added 2.3%. “The market is holding on pretty well,” Mahoney Asset Management CEO Ken Mahoney said, pointing to analysts who are “still not finished raising their guidance.” Reuters
Applied Digital was among AI infrastructure stocks seeing interest. Reuters said the company landed a 15-year, $5.2 billion lease with a U.S. hyperscaler for computing at its Delta Forge 2 site. The deal covers 210 megawatts, and could reach $12.7 billion over three decades with renewals, according to Applied Digital.
Deal headlines gave stocks a lift. Nuvalent shares surged after GSK said it would buy the cancer drug developer for $10.6 billion in cash, at $124 per share—40% above where the stock ended Monday. GSK chief Luke Miels described the buy as “essentially three products in one.” Verso Investment Management’s James Eugene noted that the size of the deal may have caught investors off guard. Pfizer’s Lorbrena and Roche’s Alecensa are still big names in lung cancer drugs. Reuters
Oil’s slide took some pressure off stocks. Brent crude lost 3.3% and settled at $91.14 a barrel, the Associated Press said. The 10-year Treasury yield slipped to 4.54%, from 4.56% late Monday. Airlines got a bump from lower fuel costs. United Airlines climbed 3%. Delta Air Lines rose 2.8%.
Rates aren’t helping. CME Group’s FedWatch tool looks at rate odds from 30-day fed funds futures, with traders using the contracts to gauge if the Fed might need to hold policy tighter if inflation doesn’t ease.
The worry is this rebound might just be another overcrowded move in tech, not a real shift higher. Bank of America’s Savita Subramanian told clients in a late-Friday note, “Too many red flags. Take profits,” according to Axios, pointing to stretched conditions. Morgan Stanley’s Mike Wilson sounded less alarmed, saying “a correction was inevitable and ultimately healthy.” Axios
Right now, buyers keep coming in when oil eases and chip stocks steady. That support could vanish quickly. A stronger CPI on Wednesday, crude rallying again, or more selling in expensive AI shares would hit the Dow’s edge and threaten the S&P 500’s early climb.
