Tech Stocks Rally as Semiconductors Rebound, Consumer Names Lag

On May 22, technology stocks led a market rebound, with semiconductors outperforming as AMD rose 4.25%, Texas Instruments gained 3.94%, and Intel climbed 2.73%. This follows the May 19 pullback when semiconductors had dropped about 7% from recent highs amid rising Treasury yields and profit-taking. The Magnificent 7 fell 1.2% that day, while gold and silver declined sharply over the prior month. Nvidia slipped 1.45% on May 22 even as broader tech sentiment improved, while consumer stocks such as Walmart dropped 1.34%, reflecting softer spending. The shift suggests potential sector rotation back into growth names after earlier rate-driven pressure.