Tech Stocks Hit New Highs As AI Momentum Builds: What's Moving Markets Tuesday?

Zinger Key PointsThe Nasdaq 100 hits record highs as Nvidia and AMD rebound on renewed chip sales to China.SOXX ETF jumps 1.6%, extending gains to 67% since April amid chipmaker surge.Get daily-updated rankings across momentum, growth, value, trends, and quality to spot the strongest stocks in any market.The Nasdaq 100 surged to fresh record highs on Tuesday, breaking above the 23,000 mark asNvidia Corp.NVDAand other chipmakers powered a sharp rally. Investors cheered the news that Nvidia andAdvanced Micro Devices Inc.AMDwould resume certain chip sales to China, even as they parsed quarterly resultsfrom major U.S. banks.TheiShares Semiconductor ETFSOXXclimbed 1.6% to a new all-time high, extending its rally to 67% since the April lows.Meanwhile, the White House confirmed that trade negotiations are ongoing with the EU, Japan, and South Korea, following the imposition of steep tariffs on imports from all three regions—measures that could trigger price surges starting in August.On the macro front, U.S. inflation accelerated for a second straight month. The headline consumer price index rose 2.7% year-over-year in June, the highest since February and in line with expectations. However, core inflation, which strips out food and energy, came in slightly below forecasts at 2.9%, versus 3.0% expected.The softer core reading reinforced market expectations for monetary easing, with futures now pricing in two rate cuts from the Federal Reserve by year-end.Elsewhere in markets, the U.S. dollar index rose 0.44%, on track for a fourth consecutive daily gain. Gold dipped 0.7% to $3,325 per ounce, while silver slid 1.2%.In crypto,BitcoinBTC/USDfell 2.8%, on pace for its worst daily loss since late May.Tuesday’s Performance In Major US Indices, ETFsMajor IndicesPriceChg %Nasdaq 10022,974.530.5%S&P 5006,266.490.0%Dow Jones44,173.53-0.6%Russell 20002,224.92-1.1%Updated by 12:15 p.m. ETAccording toBenzinga Prodata:TheVanguard S&P 500 ETFVOOflattened at $574.00.TheSPDR Dow Jones Industrial AverageDIAdropped 0.6% to $441.81.The tech-heavyInvesco QQQ Trust SeriesQQQrose 0.5% to $559.98.TheiShares Russell 2000 ETFIWMtumbled 1.1% to $220.65.TheTechnologySelect Sector SPDR FundXLKoutperformed, up 1.2%; theMaterials Select Sector SPDR FundXLBlagged, down 1.7%.Tuesday’s Stock MoversBlackRock Inc.BLKslid 5.8% after its second-quarter revenue came in just below Wall Street estimates.Other stocks reacting to earnings includedJPMorgan Chase & Co.JPM, down 0.6%,Citigroup Inc.C, up 2.3%,Wells Fargo Co.WFC, down 5%,State Street Corp.STT, down 3%.Newmont Corp.NEMdropped 8.1% after CFOKaryn Ovelmenresigned, effective July 11, 2025, with Peter Wexler named interim CFO.MP Materials Corp.MPsoared 25% after Apple announced a $500 million deal to purchase rare-earth magnets from the company.Now read:JPMorgan Q2 Highlights: Investment Banking Revenue Jumps, Dimon Warns Of Tariffs And Geopolitical RiskPhoto: ShutterstockLoading...Loading...$BTCBitcoin$117211.37-2.21%Stock Score Locked: Want to See it?Benzinga Rankings give you vital metrics on any stock – anytime.Reveal Full ScoreEdge RankingsMomentum94.50Price TrendShortMediumLongOverviewAMDAdvanced Micro Devices Inc$155.476.31%BLKBlackRock Inc$1053.55-5.21%CCitigroup Inc$90.423.34%DIASPDR Dow Jones Industrial Average ETF$441.42-0.71%IWMiShares Russell 2000 ETF$220.39-1.25%JPMJPMorgan Chase & Co$286.41-0.79%MPMP Materials Corp$59.7223.1%NEMNewmont Corp$56.06-7.83%NVDANVIDIA Corp$171.194.34%QQQInvesco QQQ Trust, Series 1$558.810.47%SOXXiShares Semiconductor ETF$247.401.46%STTState Street Corp$105.59-4.03%VOOVanguard S&P 500 ETF$573.79-0.10%WFCWells Fargo & Co$78.71-5.66%XLBMaterials Select Sector SPDR$89.35-1.82%XLKSPDR Select Sector Fund - Technology$258.601.16%XLVSPDR Select Sector Fund - Health Care$133.00-1.50%Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. . .EarningsAnalyst RatingsOptionsDividendsIPOsdate▲▼ticker▲▼name▲▼Price Target▲▼Upside/Downside▲▼Recommendation▲▼Firm▲▼Click to see moreAnalyst RatingsupdatesAnalyst CalendarJoin Benzinga Edge and unlock all the major upgrades, downgrades, and changes to the market's most accurate analysts.Click to JoinPosted In:Analyst ColorEquitiesLarge CapTop StoriesAnalyst Ratings