June 17, 2024 – 7:07 AM PDT
(Reuters) – Wall Street’s main indexes edged lower on Monday as investors awaited fresh economic data and comments from Federal Reserve officials throughout the week for more clarity on monetary policy.
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Keeping a lid on losses were megacaps Apple (AAPL.O) and Microsoft (MSFT.O) with gains of 0.3% and 0.9%, respectively. AI chip leader Nvidia (NVDA.O) advanced 1% to hit a fresh record high.
Other chip stocks also rose, sending the Philadelphia SE Semiconductor index (.SOX) to an all-time high. Broadcom (AVGO.O) and U.S.-listed shares of Taiwan Semiconductor Manufacturing Co were up around 3% each, while Micron Technology (MU.O) jumped 2% after price-target raises by brokerages.
Autodesk (ADSK.O) jumped 4.5% after a report that activist investor Starboard Value had bought a roughly $500 million stake in the software…