Some big tech shares were holding up Wednesday afternoon as inflation data and questions about the path ahead for interest rates
weighed on U.S. stocks
.
Tesla (
TSLA
), Intel (
INTC
) and Palantir (
PLTR
) were recently among the top gainers in the S&P 500, which was more broadly edging lower. The tech-focused Nasdaq Composite was ticking lower, but its retreat was less pronounced than that of the other leading indexes.
It’s not exactly full-steam ahead for tech today, but there were a few standout names. Tesla, down substantially in 2025—CEO Elon Musk this week saw his estimated net worth drop
below $400 billion
for the first time this year—was up 4%. Palantir, the year’s best performer in the benchmark S&P 500, was up nearly as much.
Apple (
AAPL
) saw its shares edge higher following news of
an AI partnership
with China’s Alibaba (
BABA
), with the stock up more than 1%. Intel was up some 6%, extending its year-to-date gains after a brutal 2024.
There were, undoubtedly, losers in big tech as investors worried that
stubborn inflation
, as measured by the
Consumer Price Index
, might mean the Fed could keep interest rates higher for longer. Nvidia (
NVDA
) was recently down more than 1.5%, and the PHLX Semiconductor Index (
SOX
) edged downward.
All but two of the S&P 500’s 11 sectors were recently in retreat.
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