S&P 500 and Nasdaq Climb as Chip Stocks Stabilize

The S&P 500 and Nasdaq Composite climbed on June 8, 2026, led by a stabilization in semiconductor and AI-related stocks following a volatile prior session. Chip stocks, which had sold off on broader risk-off sentiment, recovered as investors rotated back into technology after Intel's announcement of foundry deals with Google and Nvidia provided a sector-wide positive catalyst. The Nasdaq's resilience stood in contrast to the Dow Jones Industrial Average, which declined modestly as rising oil prices — Brent surged to ~$96 on Israel-Iran escalation — weighed on consumer and transportation names.

The session's leadership profile reflected AI infrastructure as the dominant market theme: semiconductor equipment names, foundry plays, and AI data center supply chain stocks outperformed broad indices. Marvell Technology surged approximately 9% on S&P 500 inclusion news, while Intel jumped roughly 12% on its Google and Nvidia foundry deals — both among the top single-session performers in the Nasdaq 100. CrowdStrike was a notable laggard, dropping approximately 4% after an earnings-beat failed to satisfy elevated investor expectations following the stock's 60% pre-earnings rally.

The day's mixed signals — chip sector strength, energy sector gains on oil, and selective selling in high-multiple names — illustrate a market that continues to price AI infrastructure demand as a multi-year secular tailwind while growing more selective about individual stock valuations. Investors should watch whether chip stock stabilization translates into renewed momentum in the weeks ahead, or whether CrowdStrike's post-earnings fade signals broader fatigue in high-multiple technology names.