S&P500 and Dow Jones: Broadcom Lifts Tech Stocks as Industrial Average Slips

U.S. stocks were mixed as Broadcom’s extended chip-supply deal with Apple through 2031 sparked a semiconductor rally that lifted the S&P 500 and helped the Nasdaq reclaim its 50-day moving average. The S&P 500 is now testing resistance near its June 15 high, while the Nasdaq’s technical backdrop improved with support regained. The Dow Jones set a fresh intraday record before fading, showing the rally is still uneven. Broader market tone was also influenced by stable ISM services data and easing rate-hike odds ahead of Wednesday’s Fed minutes and the start of earnings season. Overall, the article suggests bullish near-term momentum for large-cap tech and the broader market, but confirms that follow-through above key resistance levels is needed to validate the move.