S&P 500 Forecast: AI Stocks Drive Rally as Hot PPI and Weak Breadth Test Bulls

S&P 500 Heat Map Shows AI Strength Against Retail Weakness

We see several movers in today’s S&P 500 Index trading session. TXN (+4.51%), MU (+4.04%), QCOM (+3.61%), and TSLA (+3.42%) are putting in the work with chip stocks getting a bid from optimism around the Trump-Xi China summit and the possibility of better trade conditions for US semiconductor names. Musk is also heading to China for a potential FSD approval. More so Micron has an extra tailwind from Samsung strike concerns, which could tighten memory-chip supply even more.

The weaker stocks for today are HD (-3.14%), CRM (-4.20%), PLTR (-3.99%). There’s still some pressure on retail linked cyclicals and high-multiple software. But all in all the S&P 500 Index is moving higher.