The Philadelphia Semiconductor Index led gains in major benchmarks in late-morning U.S. trading Monday as chip shares rebounded from last week’s sharp losses, with broader indexes also higher.
The S&P 500 and Nasdaq Composite also advanced in the same part of the session. Their gains showed that the advance extended beyond semiconductor shares.
The semiconductor benchmark outperformed the broader indexes, leading the three in the morning move.
The Monday advance came after the semiconductor index’s 6.7% drop on Oct. 22; the Nasdaq Composite lost 2.6% that day amid investor concerns over returns from heavy artificial intelligence spending.
The snapshot was intraday and does not show Monday’s closing returns.
