S&P 500 gains while chip stocks drag down Nasdaq 100

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.

S&P 500 gains while chip stocks drag down Nasdaq 100 In 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. The 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. Information technology was the worst-performing sector, while healthcare was the best. 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/ . Stocks that moved higher: 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. Stocks that moved lower: 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, 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 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.