Nasdaq edges up 0.11% to 24,045 points: Intel surges, Tesla falls 5.42%

Intel and Semiconductors Lead the Charge

Intel emerged as the big winner of the session with a 4.89% leap to $50.38, marking the strongest gain on the Nasdaq. The chipmaker also pulled up Advanced Micro Devices, which rose 3.47% to $217.50, benefiting from a sector rotation favorable to semiconductors. DoorDash also shone with a 3.95% increase to $156.45, extending its rally that began earlier in the week. Netflix contributed to the upward momentum, climbing 3.25% to $98.66, while Workday rose by 2.49% to $132.26. Thomson Reuters gained 2.44% to $90.20, followed by Kraft Heinz (+2.33% to $22.79) and Cognizant (+2.09% to $62.53). Costco gained 1.85% to $1,014.96, symbolically crossing the $1,000 threshold, and Linde closed up 1.78% to $502.60.

Tesla Falters, Tech Stocks Under Pressure

On the other hand, Tesla experienced the largest drop of the day with a plunge of 5.42% to $360.59, erasing some of the gains accumulated in recent weeks. The automaker weighed on the entire growth stock sector. Arm Holdings fell by 3.84% to $149.11, while Biogen dropped 3.50% to $177.34. Dutch semiconductor machinery manufacturer ASML Holding declined by 3.13% to $1,317.23, in a consolidation move after several sessions of gains. Intuitive Surgical lost 2.67% to $452.07, and Axon Enterprise fell by 2.54% to $412.81. MicroStrategy, sensitive to bitcoin variations, dropped 2.40% to $119.83. Constellation Energy slid 2.38% to $272.82, GE HealthCare by 2.26% to $70.35, and Regeneron Pharmaceuticals ended down 1.98% at $761.85.

A Lackluster Start to the Quarter

This indecisive session highlights the hesitations of the US markets in this first week of April. The Nasdaq, hovering at 24,045.53 points, is struggling to find a catalyst that could give it a clear direction. Investors seem to be waiting for new signals, between upcoming quarterly earnings reports and macroeconomic indicators. The sector rotation observed on Thursday, with gains concentrated in semiconductors and notable losses in growth stocks, reflects a market in search of valuations after several months of uninterrupted progress.