{"slug": "s-p-500-gains-while-chip-stocks-drag-down-nasdaq-100", "title": "S&P 500 gains while chip stocks drag down Nasdaq 100", "summary": "The S&P 500 rose Thursday while the Nasdaq 100 fell as Broadcom's failure to raise its AI chip revenue forecast dragged semiconductor stocks lower. Information technology was the worst-performing sector, while healthcare led gains. Bitcoin slid toward February lows amid $1.4 billion exiting its ETFs, and other major cryptocurrencies sank to multiyear lows.", "body_md": "# S&P 500 gains while chip stocks drag down Nasdaq 100\n\nIn yesterday’s postmarket earnings report, Broadcom failed to move up its goalposts for AI chip revenue, sending AI-linked names lower during today’s trading.\n\nThe S&P 500 gained while the Nasdaq 100 fell as [underwhelming results](https://sherwood.news/tech/broadcom-earnings-guidance-top-analysts-expectations/) from [Broadcom](https://robinhood.com/us/en/stocks/AVGO/?source=sherwood) [dragged chip stocks](https://sherwood.news/markets/broadcoms-underwhelming-results-are-dragging-the-ai-complex-and-the-wider-market-lower/) lower.\n\nInformation technology was the worst-performing sector, while healthcare was the best.\n\n[Bitcoin](https://robinhood.com/us/en/crypto/BTC/?source=sherwood)** **slid toward its February lows amid [$1.4 billion exiting its ETFs](https://sherwood.news/crypto/bitcoin-nears-february-lows-amid-1-4-billion-exiting-its-etfs/?utm_source=robinhood), while [ethereum](https://robinhood.com/us/en/crypto/ETH/?source=sherwood), [solana](https://robinhood.com/us/en/crypto/SOL/?source=sherwood), [XRP](https://robinhood.com/us/en/crypto/XRP/?source=sherwood), and [dogecoin](https://robinhood.com/us/en/crypto/DOGE/?source=sherwood)** **all sank, with the tokens [falling to lows not seen in over a year](https://sherwood.news/crypto/sentiment-for-crypto-is-firmly-in-the-gutter-as-sector-sinks-with-tokens-hitting-multiyear-lows/).\n\n**Stocks that moved higher:**\n\n[Blue Owl Capital](https://robinhood.com/us/en/stocks/OWL/?source=sherwood),[KKR & Co.](https://robinhood.com/us/en/stocks/KKR/?source=sherwood),[Apollo Global Management](https://robinhood.com/us/en/stocks/APO/?source=sherwood), and[Blackstone](https://robinhood.com/us/en/stocks/BX/?source=sherwood)[bounced back after Wednesday’s drop in private credit-exposed stocks](https://www.cnbc.com/amp/2026/06/04/blackstone-caps-withdrawals-private-credit.html), even as Blackstone moved to restrict fund redemptions.[Pinterest](https://robinhood.com/us/en/stocks/PINS/?source=sherwood)popped after announcing an expanded[Amazon](https://robinhood.com/us/en/stocks/AMZN/?source=sherwood)[partnership with a $4 billion cloud deal](https://newsroom.pinterest.com/news/pinterest-aws-power-ai-visual-search-discovery/)to power its visual search features.[Quantinuum](https://robinhood.com/us/en/stocks/QNT/?source=sherwood)[opened above its IPO price and continued to rise](https://sherwood.news/markets/quantinuum-opens-above-ipo-price-and-continues-to-rise-as-wall-street-remains-hungry-for-quantum-exposure/)as Wall Street remained hungry for quantum exposure.[SciSparc](https://robinhood.com/us/en/stocks/SPRC/?source=sherwood)surged after announcing the[closing of its acquisition of a majority stake in NeuroThera Labs](https://www.globenewswire.com/news-release/2026/06/04/3306664/0/en/scisparc-subsidiary-neurothera-labs-completed-acquisition-of-cliniquantum.html).[Oscar Health](https://robinhood.com/us/en/stocks/OSCR/?source=sherwood)gained on an upgrade by Wells Fargo to “equal weight” from “underweight.”[GM](https://robinhood.com/us/en/stocks/GM/?source=sherwood)edged up after reports it has[rehired more than 100 former Cruise employees](https://sherwood.news/business/gm-has-reportedly-rehired-more-than-100-former-cruise-employees-18-months-after-shuttering-the-robotaxi-unit/), 18 months after shuttering its robotaxi unit.[ChargePoint](https://robinhood.com/us/en/stocks/CHPT/?source=sherwood), an electric vehicle infrastructure company, reported Q1 earnings after the bell yesterday,[topping analysts’ expectations for first-quarter revenue](https://sherwood.news/markets/chargepoint-q1-revenue-tops-estimates-but-cash-pile-dwindles/), though its cash pile dropped by about one-third.\n\n**Stocks that moved lower:**\n\n[Micron](https://robinhood.com/us/en/stocks/MU/?source=sherwood)and[Sandisk](https://robinhood.com/us/en/stocks/SNDK/?source=sherwood)sank on a[double dose of bad news](https://sherwood.news/markets/micron-and-sandisk-drop-on-double-dose-of-bad-news-blame-broadcom-and-sk-hynix/)from[Broadcom](https://robinhood.com/us/en/stocks/AVGO/?source=sherwood)and SK Hynix.Despite crushing Q2 estimates and raising its full-year outlook,\n\n[Ciena Corp.](https://robinhood.com/us/en/stocks/CIEN/?source=sherwood)[sank as investors took profits](https://sherwood.news/markets/ciena-shares-sink-despite-crushing-q2-estimates-and-raising-full-year-outlook/)on the already well-loved fiber networking stock.[PVH](https://robinhood.com/us/en/stocks/PVH/?source=sherwood)shares[plunged on a lowered revenue outlook](https://sherwood.news/markets/pvh-shares-plunge-on-lowered-revenue-outlook-tied-to-geopolitical-tensions/)tied to geopolitical tensions.[CrowdStrike](https://robinhood.com/us/en/stocks/CRWD/?source=sherwood)sank despite[edging past analysts’ estimates for revenue and earnings](https://sherwood.news/markets/crowdstrike-q1-2027-earnings/)in its first fiscal quarter in yesterday’s postmarket quarterly report.[American Airlines](https://robinhood.com/us/en/stocks/AAL/?source=sherwood)fell after[suspending six routes](https://www.cbsnews.com/news/american-airlines-california-route-cuts-jet-fuel-iran-war/)as jet fuel costs remain elevated.Discount retailer\n\n[Five Below](https://robinhood.com/us/en/stocks/FIVE/?source=sherwood)sank despite delivering[impressive Q1 earnings](https://sherwood.news/markets/five-below-sinks-despite-q1-earnings-beat-and-optimistic-q2-outlook/), beating out analyst estimates yesterday after the bell.", "url": "https://wpnews.pro/news/s-p-500-gains-while-chip-stocks-drag-down-nasdaq-100", "canonical_source": "https://sherwood.news/markets/market-wrap-2026-06-04-sp500-qqq/", "published_at": "2026-06-04 20:03:43+00:00", "updated_at": "2026-06-04 20:58:36.559376+00:00", "lang": "en", "topics": ["ai-chips", "artificial-intelligence"], "entities": ["Broadcom", "S&P 500", "Nasdaq 100", "Bitcoin", "Ethereum", "Solana", "XRP", "Dogecoin"], "alternates": {"html": "https://wpnews.pro/news/s-p-500-gains-while-chip-stocks-drag-down-nasdaq-100", "markdown": "https://wpnews.pro/news/s-p-500-gains-while-chip-stocks-drag-down-nasdaq-100.md", "text": "https://wpnews.pro/news/s-p-500-gains-while-chip-stocks-drag-down-nasdaq-100.txt", "jsonld": "https://wpnews.pro/news/s-p-500-gains-while-chip-stocks-drag-down-nasdaq-100.jsonld"}}