The Dow Couldn't Keep Up With Chip Stocks on Monday

U.S. stocks were led higher by semiconductor names on Monday, with the Nasdaq Composite up 1.3% and the S&P 500 up 0.7%, while the Dow lagged near flat. The article says Broadcom rose 4.4% after extending its chip supply agreement with Apple through 2031, adding $78 billion in market cap, helping fuel a broader chip rally. AMD jumped 8% on adoption of its graphics processors for AI training, and Nvidia also rose. Apple benefited indirectly from the Broadcom deal and Tesla was a major contributor to Nasdaq gains, rising 5.8% and adding $91 billion in value. The Dow’s price-weighted structure hurt relative performance because declines in Honeywell and Amgen outweighed gains in Goldman Sachs and IBM. Microsoft fell 1.4% after announcing 4,800 job cuts. Overall, the market tone was bullish for tech and chip stocks, while the Dow underperformed despite individual winners.