Intel and semiconductors lead the way
Intel emerged as the big winner of the session with a jump of 4.89% to $50.38, signing the largest increase on the Nasdaq. The chip manufacturer dragged in its wake Advanced Micro Devices, which gained 3.47% to $217.50, benefiting from a sectoral rotation favorable to semiconductors. DoorDash also shone with an increase of 3.95% to $156.45, extending its rally started at the start of the week. Netflix contributed to the upward momentum by rising 3.25% to $98.66, while Workday climbed 2.49% to $132.26. Thomson Reuters rose 2.44% to $90.20, followed by Kraft Heinz (+2.33% to $22.79) and Cognizant (+2.09% to $62.53). Costco gained 1.85% to $1,014.96, symbolically crossing the $1,000 threshold, and Linde closed up 1.78% to $502.60.
Tesla plummets, technology stocks under pressure
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In contrast, Tesla suffered the biggest correction of the day with a plunge of 5.42% to $360.59, erasing part of the gains accumulated in recent weeks. The automaker weighed on the entire growth stock sector. Arm Holdings fell 3.84% to $149.11, while Biogen fell 3.50% to $177.34. The Dutch manufacturer of semiconductor machines ASML Holding lost 3.13% to 1,317.23 dollars, in a consolidation movement after several sessions of increase. Intuitive Surgical lost 2.67% to $452.07 and Axon Enterprise fell 2.54% to $412.81. MicroStrategy, sensitive to variations in bitcoin, dropped 2.40% to $119.83. Constellation Energy slipped 2.38% to $272.82, GE HealthCare 2.26% to $70.35, and Regeneron Pharmaceuticals finished down 1.98% to $761.85.
A mixed start to the quarter
This dotted session illustrates the hesitations of the American markets in this first week of April. The Nasdaq, which is trading at 24,045.53 points, is struggling to find a catalyst capable of giving it a clear direction. Investors seem to be waiting for new signals, between publication of upcoming quarterly results and macroeconomic indicators. The sectoral rotation observed on Thursday, with gains concentrated on semiconductors and marked losses on growth stocks, testifies to a market in search of valuations after several months of uninterrupted progression.
