Stocks Gain Momentum from Robust Performance of Chip Manufacturers and Positive Sentiment in AI

Market Performance: The S&P 500, Dow Jones, and Nasdaq indexes are slightly up, driven by strength in chip makers and AI optimism, despite higher bond yields limiting gains.

Corporate Earnings Outlook: Over 22% of S&P 500 companies expect to exceed Q3 earnings forecasts, with projected earnings growth of 6.9%, indicating a positive sentiment in the market.

Upcoming Economic Data: Key economic indicators to watch this week include new home sales, unemployment claims, and personal spending, with expectations of slight declines in some areas.

Stock Movements: Notable stock movements include significant gains for chip stocks and energy producers, while Acadia Pharmaceuticals and Freeport-McMoRan faced declines due to disappointing trial results and operational issues, respectively.