Stock Market Today: Nasdaq Pops as Semiconductor Stocks Soar
The main indexes closed higher Monday after a bull call on Micron boosted several large-cap chipmakers.


Stocks started the week on a positive note, with the main benchmarks building on last week's strong gains.
Amid a relatively bare economic calendar, market participants sifted through several single-stock headlines – including memory chipmaker Micron Technology (MU) being named a top pick among semiconductor stocks.
At the close, the Dow Jones Industrial Average was up 0.5% at 38,852, the S&P 500 was 1.0% higher at 5,180, and the Nasdaq Composite had gained 1.2% to 16,349.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The main indexes finished last week with gains ranging from 0.6% to 1.4% after Federal Reserve Chair Jerome Powell said more rate hikes are "unlikely" and the April jobs report pointed to easing wage pressures.
Today's economic news was fairly light, with speeches from a pair of central bank officials being the only events. Richmond Fed President Tom Barkin was one of those speakers.
Speaking at the Columbia Rotary Club in Columbia, South Carolina, Barkin expressed optimism that inflation will eventually come back down to the central bank's 2% target. For now though, the "recent data whiplash has only confirmed the value of the Fed being deliberate," he said.
Buffett & Co. cut Apple stake
While interest rates and inflation were a low hum on Wall Street today, the headlines coming from Saturday's annual Berkshire Hathaway (BRK.B, +1.0%) shareholder meeting caused a loud stir.
Notably, the holding company cut its stake in Apple (AAPL) by 13%, to 790 million shares from 905 million at the end of 2023. However, as Warren Buffett, chairman and CEO of Berkshire explained, the move was made because of expectations that "current fiscal policies" are "likely" to cause corporate taxes to go up.
As for his take on the iPhone maker, Buffett said he still thinks Apple is a solid business and investment. AAPL shares fell 0.9% today.
Micron pops after being named a top pick
Outside of Omaha, single-stock news centered on Tyson Foods (TSN, -5.7%) and Spirit Airlines (SAVE, -9.7%), which both tumbled after earnings.
Meanwhile, Micron jumped 4.7% after Baird analyst Tristan Gerra upgraded the memory chipmaker to Outperform (Buy) and said it's a top pick among semis. The analyst sees "meaningful upside ahead" for MU, with "incrementally positive trends" unfolding in dynamic-random access memory (DRAM).
This created a halo effect for several large-cap semiconductor stocks, including Super Micro Computer (SMCI, +6.1%) and Advanced Micro Devices (AMD, +3.4%).
Related content
- Kiplinger's Economic Calendar for This Week
- Final EV Tax Credit Rules Don't Change Much for Consumers
- How To Find Great Dividend Stocks
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Stock Market Today: S&P 500, Nasdaq Hit New Highs on Retail Sales Revival
Strong consumer spending and solid earnings for AI chipmaker Taiwan Semiconductor Manufacturing boosted the broad market.
-
Higher Summer Costs: Tariffs Fuel Inflation in June
Tariffs Your summer holiday just got more expensive, and tariffs are partially to blame, economists say.
-
Stock Market Today: S&P 500, Nasdaq Hit New Highs on Retail Sales Revival
Strong consumer spending and solid earnings for AI chipmaker Taiwan Semiconductor Manufacturing boosted the broad market.
-
If You'd Put $1,000 Into Berkshire Hathaway Stock 20 Years Ago, Here's What You'd Have Today
Berkshire Hathaway is a long-time market beater, but the easy money in BRK.B has already been made.
-
New SALT Cap Deduction: Unlock Massive Tax Savings with Non-Grantor Trusts
The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use multiple non-grantor trusts to maximize deductions and enhance estate planning.
-
Know Your ABDs? A Beginner's Guide to Medicare Basics
Medicare is an alphabet soup — and the rules can be just as confusing as the terminology. Conquer the system with this beginner's guide to Parts A, B and D.
-
I'm an Investment Adviser: Why Playing Defense Can Win the Investing Game
Chasing large returns through gold and other alternative investments might be thrilling, but playing defensive 'small ball' with your investments can be a winning formula.
-
Stock Market Today: Powell Rumors Spark Volatile Day for Stocks
Stocks sold off sharply intraday after multiple reports suggested President Trump is considering firing Fed Chair Jerome Powell.
-
Callable CDs Have High Rates: We Still Don't Recommend You Get Them
Investors must carefully consider the trade-offs, as falling interest rates could lead to reinvestment at a lower yield and make selling on the secondary market difficult.
-
Five Big Beautiful Bill Changes and How Wealthy Retirees Can Benefit
Here's how wealthy retirees can plan for the changes in the new tax legislation, including what it means for tax rates, the SALT cap, charitable giving, estate taxes and other deductions and credits.