Wall Street Flat; AI Optimism Counters Macro Pressures
U.S. stock indices traded relatively flat on Monday as positive sentiment from the artificial intelligence sector contended with macroeconomic headwinds. The S&P 500 remained virtually unchanged and the Dow Jones edged lower, while the Nasdaq 100 posted modest gains.
Stocks linked to AI infrastructure and services drew renewed attention after Anthropic’s revenue growth reinforced confidence that AI model development and data center investments would continue. Anthropic reported second-quarter revenue of US$11.5 billion and is reportedly exploring talks with banks regarding a potential IPO.
This optimism also lifted semiconductor stocks. SanDisk rose approximately 5% and Micron surged about 6%, while Nvidia and Amazon saw slight gains. These movements indicate that the AI theme remains a key driver for the Nasdaq and technology stocks.
However, the strength in the technology sector has not fully extended to the broader market. Stocks representing traditional economic sectors lagged behind, keeping the Dow Jones slightly below its previous close.
Investors are also awaiting earnings reports from major retailers such as Walmart and Home Depot, scheduled for release this week. The performance of these two companies will serve as a crucial indicator of U.S. household consumption trends, particularly following earlier retail sales data that showed signs of weakness.
Newsmaker Analysis: Wall Street remains underpinned by the AI narrative, though gains are increasingly concentrated in technology and semiconductor stocks. If retail earnings reports reveal further weakness in consumption, concerns regarding an economic slowdown could cap index rallies. Conversely, sustained AI momentum has the potential to keep the Nasdaq stronger than the Dow. (gn)
Source: Newsmaker.id
