U.S. stocks split mid-session as chip stocks continued their slide for a second straight day, weighed down by concerns over AI capex sustainability despite strong earnings from Taiwan Semiconductor. UnitedHealth surged on beat earnings, but the Dow held flat and the Nasdaq declined 0.9% as investors reassess tech valuations amid escalating U.S.-Iran tensions.
→ Netflix earnings after the close—key test of ad monetization and subscriber momentum in a pullback environment.
→ Continued pressure in semiconductor names (Micron, AMD, Broadcom down 3%+) as market questions sustainability of AI capex cycle.
→ 10Y yield action: could test 4.50% if risk sentiment deteriorates; chip weakness + Iran tensions a risk factor into close.