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.
Advertisement
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…
