Stocks Advance as Consumer, Tech Sectors Gain Ground
S&P 500 added 0.58% as bond yields eased and chipmaker Marvell raised long-term revenue targets
Where the market closed
Index levels, yields and exchange rates at the US close. Source: market data via Yahoo Finance. New to index investing? See our complete S&P 500 guide.
What moved the market
Major indexes advanced with the S&P 500 gaining 0.58% as Treasury yields declined and sector strength in consumer, tech, and financials outweighed small-cap weakness. Chipmaker $MRVL (Marvell Technology, Inc. common stock) raised its fiscal 2031 revenue target to $90 billion and fiscal 2028 guidance to $20 billion, above the $18.2 billion analyst consensus, while broader AI chip momentum continued to support tech gains despite warnings from Rosenberg Research that $NVDA (Nvidia Corp. common stock) strength is masking broader market pain.
The 30-second read
- •S&P 500 rose 0.58%, Nasdaq gained 0.45%; small-caps fell 0.59%
- •Consumer, tech, financial sectors advanced late afternoon
- •Marvell raised fiscal 2028 revenue target to $20B, fiscal 2031 to $90B
- •10-year Treasury yield declined; VIX fell 3.0%
- •Fear & Greed index at 73, signaling cautious greed
What to watch next
- Thursday morningPepsiCo earnings report
- Ongoing reviewNike 10-Q filing regional sales data
Reference & disclosures
Sources & headlines
- Sector Update: Consumer Stocks Higher Late Afternoon — Yahoo
- Starbucks sued over sugar-free protein drink labeling — Yahoo
- Marvell raises fiscal 2031 revenue target at investor day — Yahoo
- Sector Update: Energy Stocks Gain Late Afternoon — Yahoo
- Jim Cramer Finds More Than a Stock Price Gap Between PepsiCo (PEP) and Coca-Cola (KO) — Yahoo
- Sector Update: Financial Stocks Advance Late Afternoon — Yahoo
- Nvidia Strength Is Masking ‘A Whole Lot of Pain’ in the Broader Market, David Rosenberg Says — Yahoo
- Sector Update: Tech Stocks Rise Late Afternoon — Yahoo
- Stock Market Today: Dow Rises, But Seagate Dives On This; AI Stock, Electronics Play Clear Entries (Live Coverage) — Yahoo
- Why investors' 'proverbial wall of worry' is no match for the market rally — Yahoo
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