4:31 PM ET
The Nasdaq held up best as the key indexes pared big gains to finish mostly lower Tuesday amid renewed concerns about China-U.S. trade talks that Bloomberg reported.
The Nasdaq composite rose 0.1%, while the S&P 500 was a fraction lower and the Dow Jones Industrial Average edged down 0.1%. Small caps fared the worst, with the Russell 2000 down 0.6%. Preliminary data showed volume slightly lower on the NYSE and higher on the Nasdaq vs. Monday's totals.
The indexes had gapped up to big gains before the trade-talk report. However, the Wall Street Journal subsequently reported the U.S. and China are planning new talks next week on a trade deal. In other news, the Fed kicked off its two-day monetary policy meeting today.
Chips, managed care and internet retail stocks led the upside among sector gainers in today's stock market. Banks, truckers and other transportation groups underperformed.
Advanced Micro Devices (AMD) surged 12% in twice its normal trade after Alphabet's (GOOGL) Google confirmed a partnership for Google's new Stadia gaming service. The chip designer's shares are working on the right side of a base with a potential 34.24 buy point. Alphabet rose 1.2%.
Nvidia (NVDA) leapt 4% in above-average turnover. Late Monday, the graphics-chip maker unveiled new products and announced customer wins at a presentation in San Jose, Calif. The company also said Amazon (AMZN) will use Nvidia's T4 data-center chips. Amazon climbed 1%....MORE
Chip ETFs Rally
The chip-stock strength fueled gains in related ETFs. IShares PHLX Semiconductor (SOXX) rose 1.3%, and VanEck Vectors Semiconductor (SMH) added 1.2%. The iShares and VanEck ETFs remain in buy range from respective handle entries at 189.33 and 106.37....
Also at IBD,1:34 PM ET:
Nasdaq Extends Gains As Advanced Micro, Nvidia, Micron Lead Another Chip Rally
We'll have more on NVIDIA tomorrow, in the meantime this was today's post:
"Nvidia bags Amazon Web Services in its latest data-center chip push"
