S&P Slips While Semi’s Get Absolutely ChipWrecked…

Close but no cigar… 

The S&P 500 hit a record Friday morning, then spent the rest of the day proving records don’t mean much if you can’t hold them. By the close, the index had slipped -0.29% to 6,449.80, the Nasdaq dropped -0.40%, and only the Dow managed to keep its chin up…closing slightly higher thanks to UnitedHealth’s +12% steroid rally. However, the shine came off quick once chip stocks got rekt and the latest consumer sentiment numbers showed Americans are feeling about as optimistic as a deer on opening day.

(Source: Giphy) 

For starters, Applied Materials took the brunt of the beating, down -14% after dropping a guidance bomb that rattled the entire semiconductor sector. KLA and Lam Research followed it down 8% and 7%, while Nvidia and Broadcom shed about -1–1.5%. The whole PHLX Semiconductor Index was off more than 2%, weighed down further by tariff chatter on imported chips.

Additionally, consumer sentiment shat the bed as well with the University of Michigan’s index sliding to 58.6 from 61.7 in July, the lowest reading in nearly two years. Translation: J-Powws inflation nightmare is still taking names on Main Street, even if CPI earlier this week gave markets a temporary sugar high. Still, for the week, the major averages kept their gains. The Dow led with +1.74%, while the S&P 500 and Nasdaq locked in weekly climbs of 0.94% and 0.81%. A combination of cooler consumer inflation data and solid July retail sales (+0.5% headline, +0.3% ex-autos) kept hope alive for a September Fed rate cut. I’ll believe it when I see it though. 

(Source: Giphy) 

Outside of the chip carnage, solar stocks put on an absolute clinic after the Treasury finally dropped its guidance on renewable project tax credits under President Trump’s One Big Beautiful Bill Act. SunRun ripped +32% higher, while the Invesco Solar ETF added 10%, and names like NextEra and AES popped +4.4% and +3%. 

Meanwhile, UnitedHealth was Friday’s golden child after Grandpa Buffett revealed a bigly $1.6B stake, sending the insurer’s shares up double digits. Other health insurers like Centene, Molina, and Elevance, rode the coattails with 5% gains. 

(Source: Giphy) 

Oh, and Bitcoin hovered around $117,200…just shy of yesterday’s $124,500 high…looking like it might try for another run if HODL and YOLO vibes hold strong over the weekend. As for the bigger picture of today's price action (and my opinions that no one asked for): Sure, the week still closed green, but Friday was a reminder that this market isn’t invincible… it’s just a high-stakes table where everyone’s playing with borrowed chips. The music’s still on, but you can feel traders keeping one hand on the exit. For good reason. Meaning, keep your head on the swivel over the weekend, touch some grass, and place your bets accordingly. Until next time, friends…

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.