Nasdaq Surges 300 Points as Micron Leads Semiconductor Rally

Benzinga reported Tuesday that a powerful Nasdaq rally pushed the tech-heavy index more than 300 points higher. A broad surge in semiconductor stocks drove the move, with Micron Technology posting a single-session gain of 19%.

Micron Dominates a Strong Semiconductor Rally

Micron’s Tuesday session was its best trading day since April 2025. The chipmaker’s shares are now up more than 200% on the year. The advance pulled the wider semiconductor sector firmly higher. Information technology was among the top-performing S&P 500 sectors on the day. Materials and industrials also posted meaningful gains. Consumer staples and energy finished in the red, bucking the broader positive tone.

The Nasdaq Composite closed at 26,656.18, a gain of 1.19% on the session. The S&P 500 rose 0.61% to settle at 7,519.12. The Dow Jones Industrial Average moved in the opposite direction, slipping roughly 118 points to close at 50,461.68.

A Winning Streak That Keeps Going

Last week’s session added to an already impressive run for equities. The S&P 500 gained 0.9% over that period, completing its eighth straight winning week. The Dow outperformed with a 2.1% weekly advance. The Nasdaq added 0.5% over the same stretch. The consistent string of gains has kept investor sentiment elevated heading into the final days of May.

Background: Sentiment Gauges and Economic Signals

The CNN Money Fear and Greed Index, a widely followed measure of market psychology, edged up to a reading of 60.7 on Tuesday. That compares with a prior reading of 59, placing it firmly in the “Greed” zone. The index tracks seven equal-weighted indicators and runs on a scale from zero to 100. Readings above 55 generally suggest growing investor confidence.

On the economic data front, the S&P Cotality Case-Shiller Home Price Index showed a 0.8% year-over-year rise in March. That followed a 0.9% gain in February, suggesting a modest cooling in home price appreciation. The Chicago Fed National Activity Index turned positive in April, climbing to plus 0.14 from a revised minus 0.15 in March.

AutoZone Drags on the Dow

Not every name shared in Tuesday’s gains. Shares of AutoZone Inc. fell roughly 9% after the retailer released third-quarter earnings that disappointed investors. The decline weighed on the Dow and highlighted the stock-specific risks still present beneath the surface of a broadly constructive tape.

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