US Stock Market

Today in one line

Markets tried to shake off Friday’s scare: chip and “AI” stocks snapped back, the Nasdaq and small caps bounced, but defensives and banks sagged and everyone is clearly waiting on this week’s inflation numbers.

What it felt like

If Friday’s jobs report had you wondering whether the bottom just fell out of tech, today felt more like a deep breath than a full recovery.

The S&P 500 ticked up about 0.3%, the Nasdaq nearly 0.9%, and small caps roughly the same, while the Dow actually slipped a bit. That combination – growthy, riskier stuff up, old‑school blue chips flat to down – is classic “relief rally after a shock.”

Remember, last week a much‑hotter‑than‑expected jobs report sent bond yields to multi‑month highs and knocked the S&P about 2½% lower for the week, with the Nasdaq and chipmakers hit even harder. That’s the backdrop for today’s bounce.

Where the money moved

The rebound was all about the same names that just got hit:

• Technology led by a wide margin, up a little over 2%. Big chip names ripped higher: Intel jumped more than 10%, Micron and Marvell were each up around 9–10%, and AMD climbed over 5%.
• High‑octane stocks in general were bid: high‑beta ETFs gained close to 2%, while low‑volatility “steady Eddie” stocks fell more than 1%.
• Classic safety areas were sold to fund the rebound. Utilities dropped almost 2%, real estate about 1½%, and materials were also down. Financials and industrials were soft too.