Alissa Coram and Ken Shreve walk through Wednesday’s market action and discuss key stocks to watch in Stock Market Today.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nasdaq Holds Strong Despite Chip Sell-Off: AMAT, ONTO, USB In Focus

Stock Market Today With IBD

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Good afternoon everyone. Welcome to Stock Market Today for Wednesday, July 1st. It's Alissa Coram here.

And a pretty rough day for the high-flying chip sector, but the Nasdaq was able to hold strong to kick off the month. And joining me now to discuss the action in today's session is my colleague, Ken Shreve. Ken, always great to see you. Ken Shreve, Ken. Good to see you too, Aly. Yeah, we got a close near lows for the Nasdaq composite, but not much volume behind the decline. Found three stocks to talk about, two in the chip sector. Let's talk about applied materials.

And on to innovation. And then bank stocks doing well today as that yield curve steepens. Let's take a look at USB. Yeah. U.S. Bancorp. Yeah. Sounds like a plan. We'll do that. First, let's check out the major indexes. The Nasdaq composite down almost 0.7% on the day. Meanwhile, the S&P 500 down on the day as well.

But only 0.2%. The Dow essentially flat, just a fraction lower on the day. Ken, it looks like this chart is lagging behind just a little bit there. And then we'll go to the Russell 2000 reversing lower on the day down about 0.3% or so, but still in a very steady uptrend. But it was really the chip sector that was the drag today. Ken, your thoughts on where things stand with the Nasdaq composite?

Nasdaq Holds Strong Despite Chip Sell-Off: AMAT, ONTO, USB In Focus

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Nasdaq Holds Strong Despite Chip Sell-Off: AMAT, ONTO, USB In Focus

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.