Chips Crack, Dow Rallies: Wall Street's Great Rotation Ahead of Fed Day and Big Tech Earnings
Stocks closed mixed Tuesday as a deepening chip sell-off (AMD -8%, Micron -10%) was offset by a 6.8% oil drop on Strait of Hormuz de-escalation talk, leaving the S&P 500 nearly flat while the Dow gained 0.5%. Eyes now turn to Wednesday's Fed decision and Microsoft/Meta earnings.