Chip stocks extended their recent strength: Nvidia, Micron, Intel, Sandisk and more hit record highs. Tech also caught a bid. iCapital’s Sonali Basak breaks down the market action. Fairlead’s Katie Stockton on why she is calling for a breakout in Tesla. Apollo’s Torsten Slok breaks down the AI impact on the labor market – and what it means for inflation. Plus, what’s causing the recent rally in bitcoin with Pantera Capital’s Cosmo Jiang.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Closing Bell Overtime:  Chip Stocks Remain Parabolic 5/8/26

Closing Bell

The Bell is bringing an end to the trading day at the NYSE. Enhanced, ringing the closing bell. And at the Nasdaq is the Minister of Finance of Chile. Welcome to Closing Bell Overtime. We're live from Studio B at the Nasdaq Market Site. I'm Melissa Lee, along with Mike Santoli. Tech taking off today as chips rebound strongly. The Dow, the laggard, closing near the flat line. The S&P 500 up nearly 1%. The Nasdaq leading the way with a gain of 1.7%. More on the market straight ahead.

On our radar at the close, AI's impact on jobs. We've heard several companies cutting back, but will AI actually increase employment? Plus, signs of stress in the consumer. They're ordering cheaper steaks, skipping toppings on pizza. We'll dig into what we learned from restaurant results this week. And is Tesla's move higher this week a sign of bigger things to come? We'll get a technician's take on that. And of course, this wraps up another winning week for the markets. That is six in a row for both the S&P 500 and the Nasdaq.

And Mike, no coincidence. Also six weeks in a row, very strong performance by the chip sector. Absolutely. Which, again, is the leadership here. It's the locomotive. The rest of the train is actually almost getting longer because it's kind of falling further behind. It's pretty remarkable. I mean, you have to say it's overbought, but that doesn't mean it's over yet. I think that's always what you have to remind yourself. The Nasdaq 100, it was up 2% today at one point, closed a little bit below that level.

Closing Bell Overtime: Chip Stocks Remain Parabolic 5/8/26

Read the full transcript

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

Closing Bell Overtime: Chip Stocks Remain Parabolic 5/8/26

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.