Chips rally as consumer internet stocks tumble on agentic-AI fears, splitting a lower US market

The S&P 500 slipped 0.58% to 7,674 as the semiconductor index rose 1.3% while online-commerce names fell 5-8%; money markets now price roughly 60% odds of a Fed rate hike on 16 September.

Deepakshi

Kristal Research & Marketing team

9 Sept

Key takeaways — AI summary

US stocks closed lower with a sharp split beneath the surface: the S&P 500 fell 0.58% to 7,674 and the Dow lost 1.18%, while the Nasdaq 100 was near flat at 29,508 and the equal-weight S&P dropped about 1%.
The same AI news pushed chips up and storefronts down — the semiconductor index rose 1.3%, with Lumentum +11%, Intel +9.6% and Bloom Energy +9%, while online-commerce names fell 5-8%, including Expedia -8%, UiPath -7.8% and Shopify -7.5%.
Oil rose but round-tripped: WTI settled $1.55 higher at $93.03 and Brent touched $99.46 after Saudi Arabia confirmed strikes on the 400,000 b/d Jazan refinery, claimed by Houthi forces, before gains faded as no export capacity was damaged.
The yen strengthened even as US yields rose after Japan's July cash earnings jumped 4.7% year on year, the fastest since 1997; the 10-year Treasury yield edged up to 4.804%.
The document says money markets now put roughly 60% odds on the Federal Reserve raising rates 0.25 points on 16 September, with two inflation reports due first.
Healthcare was the worst sector at -2.55% after Novartis's Phase 3 pelacarsen trial missed its primary endpoint, dragging Switzerland's SMI down 1.55%.

Generated by Kristal AI · reviewed by the research desk

The full newsletter

Related research

Kristal Lens

Oil jumps 9% on Hormuz escalation as Fed hike odds swing wildly, yet S&P 500 ends flat

WTI settled at $91.22, up 9.32%, and September rate-hike odds whipsawed from two-in-three to a coin flip on conflicting Fed remarks, while the S&P 500 closed up just 0.09% at 7,718.6.

Deepakshi4 Sept2 min

Kristal Pulse

Waller comment turns September Fed decision into a coin toss as US stocks rally

The S&P 500 rose 1.06% to 7,748 after Governor Christopher Waller said he could support a September hold if August inflation keeps improving, cutting rate-hike odds from about 70% to roughly even.

Deepakshi4 Sept2 min

Kristal Pulse

Fed's Williams reverses rate-hike bets, lifting the S&P 500 to 7,668

After three days of selling, stocks turned up as the New York Fed president said rates are 'in a good place'; weak August jobs data and oil at $91 reinforced the shift

Deepakshi3 Sept2 min