New York Stock Market Ends Mixed... Nasdaq Up 23.88P

Semiconductor Stocks Rally Including Breadcom
Blue-Chip and Traditional Industry Stocks Remain Steady

A trader is looking at the market board on the 5th (local time) at the New York Stock Exchange (NYSE) in the United States. Photo by Xinhua News Agency

The three major stock indices on the New York Stock Exchange closed mixed. Semiconductor stocks, including Broadcom, rose, but blue-chip and traditional industry stocks mostly remained flat.

On the 13th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 43,828.06, down 86.06 points (0.20%) from the previous session.

The Standard & Poor's (S&P) 500 index closed at 6,051.09, down 0.16 points (0.00%) from the previous trading day, while the Nasdaq Composite Index ended the session up 23.88 points (0.12%) at 26,722.

U.S. semiconductor company Broadcom's stock surged significantly on strong earnings, sparking enthusiasm centered on semiconductor stocks.

During the day, Broadcom's stock price rose more than 24%, pushing its market capitalization above $1 trillion for the first time ever. It became the ninth U.S. company to surpass a $1 trillion market cap.

Broadcom's stock price has more than doubled this year, driven by increased sales in the artificial intelligence (AI) sector. After the market closed the previous day, Broadcom announced that its Q4 revenue rose 51% year-over-year. Notably, annual sales in the AI sector surged 220% during the same period, reaching $12.2 billion.

Amid this environment, semiconductor stocks joined the rally, with the Philadelphia Semiconductor Index rising more than 3%. TSMC gained over 4%. Arm rose 2%, Micron Technology increased by more than 4%, and Marvell Technology surged over 10%.

Unlike the semiconductor sector's upward trend, the major stock indices closed mixed after volatility. The Nasdaq index rose as much as 0.80% during the session but ended down 0.43%. Among the "Magnificent Seven"?the seven giant tech companies?Tesla rose more than 4%, Apple was steady, and the remaining stocks all declined.

Blue-chip and traditional industry stocks showed a flat trend. The Dow recorded its seventh consecutive day of decline. RH, a retailer of high-end furniture and interior accessories, saw its stock jump 17% after raising its annual sales forecast to a range of 6.8% to 7.2%, despite third-quarter earnings falling short of market expectations.

The U.S. import price index released that day rose 0.1% month-over-month. The October index was also revised upward by 0.1%, marking a moderate increase in import prices for two consecutive months. By sector, prices rose only in technology, utilities, and discretionary consumer goods, while communication services fell by more than 1%.