Tech rises for second day in a row as chip stocks gain: AlphaCheck

Good morning. Stocks opened higher for a second day in a row on Tuesday, with semiconductor stocks rising ahead of a key Fed meeting and Big Tech earnings this week.

The Tech (XLK) sector advanced, extending gains after Anthropic’s IPO filing lifted it in the previous session. Shares of chip giants Nvidia (NVDA), AMD (AMD), and Broadcom (AVGO) all rose.

Nvidia announced it will invest $3 billion in Meta (META) and collaborate with the social media giant on its Muse business, a day after the company unveiled plans to raise up to $95 billion to fund its AI infrastructure expansion.

Here’s a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.

Investors will get another pulse on the AI trade this Wednesday when Alphabet (GOOG) and Microsoft (MSFT) report their third quarter results.

Brent crude oil futures (BZ=F) eased to trade below $110 per barrel while WTI (CL=F) also declined to around $100 as Fed policymakers initiated a two-day policy rate meeting.

Most market participants expect policymakers to hold rates steady this month.

Here are some other notable stocks that Yahoo Finance readers are viewing this morning: SoFi Technologies (SOFI), UPS (UPS), and Corning Incorporated (GLW).

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