Nasdaq 100 Slips as AI Leaders Urge a Slowdown, 10-Year Yield Touches 5%: Stock Market Today
Security software surged on AI-safety warnings while optics and chip-test names cratered, as the 10-year yield briefly topped 5% and oil pushed past $102.
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Benchmark Initiates Coverage On SiTime with Buy Rating, Announces Price Target of $850
Benchmark analyst Gary Mobley initiates coverage on SiTime (NASDAQ:SITM) with a Buy rating and announces Price Target of $850.
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Shares of semiconductor and chip-related companies are trading lower after AI executives signaled that the industry's growth may need to be slowed. The industry is also facing pressure as oil prices spike in reaction to the escalating conflict in the Middle East which can lead to inflation, tighter lending and reduced demand.
Shares of semiconductor and chip companies are trading higher amid a broader market rally as oil prices retreat, bond yields stabilize and U.S. CPI data confirms investor expectations that the Fed will hike rates at its September meeting.
Shares of semiconductor and chip companies are trading higher. The broader industry may be rallying alongside memory and storage-related peers.