Nasdaq rebounds 1.3% Monday as chipmakers lead recovery from AI-credit rout; Amazon +4.8%, Tesla +4%

What happened

U.S. equities rebounded Monday after the Nasdaq's worst week since June, with the Nasdaq Composite rising about 1.3% and the S&P 500 up 0.5% while the Dow was flat. Chipmakers and AI-infrastructure stocks led the recovery: the iShares Semiconductor ETF (SOXX) rose more than 2%, with SanDisk and Western Digital up over 6%, Marvell up 5%, and Intel, Lam Research and Micron up more than 4%. The Magnificent Seven — except Meta — powered the advance: Amazon surged 4.8%, adding 71 points to the Dow, while Microsoft, Nvidia and Alphabet each contributed roughly 24 points; Tesla rose 3-4%. Meta lagged, falling about 0.9%. The bounce came as Dow and S&P futures had climbed earlier in the day on fading expectations of an October Fed rate hike (odds now ~13-15%) and as investors positioned ahead of a pivotal earnings week.

Who’s affected

• Chipmakers/semiconductors (SOXX +2%+): SanDisk (SNDK, +6%, S&P 500 leader), Western Digital (WDC, +6%), Marvell (MRVL, +5%), Intel (INTC, +4%), Seagate (STX), Lam Research (LRCX), Micron (MU) +4%
• AMD (+3%), Applied Materials (AMAT), Analog Devices (ADI), KLA (KLAC), Broadcom (AVGO), Qualcomm (QCOM) +2-3%. Mag 7: Amazon (AMZN, +4.8%, top Dow contributor at +71 points), Tesla (TSLA, +3-4%), Nvidia (NVDA, +1-2%), Alphabet (GOOGL, +1%), Microsoft (MSFT, +1%), Apple (AAPL, +0.1%)
• Meta (META, -0.9%, lagging ahead of Wednesday earnings). AI-infrastructure: CoreWeave (CRWV, +7% in early trading but still 57% off 52-week high), Oracle (ORCL, +1%), Applied Digital (APLD, +8%). Homebuilders lagging on weak NAHB data (DHI, PHM -2%).

Sources

barchart.combarrons.comwsj.cominvestinglive.cominvestors.com