Overview

• The Nasdaq fell 1.5% and the S&P 500 lost 0.6%, while the Dow inched up 0.02% on strength tied to Home Depot.
• Home Depot missed quarterly estimates, reaffirmed full-year guidance, and said tariffs will prompt moderate price increases, boosting its shares and supporting the Dow.
• Large-cap technology weakened broadly as Nvidia and Broadcom dropped 3.5% each and declines in Palantir and AMD pressured the major indexes.
• Intel jumped about 7% after reports of a $2 billion SoftBank investment, and the administration is reportedly considering a 10% stake in the chipmaker.
• The 10-year Treasury yield slipped to 4.301% after S&P Global kept the U.S. rating unchanged, while Bitcoin fell below $114,000 after Treasury signaled no additions to a crypto reserve and European defense stocks and oil eased on Ukraine ceasefire signals as President Trump seeks a three-way meeting.