Intel Weighing Down the Market | Closing Bell

Summary

The closing bell show recaps a flat S&P 500 session with strong breadth but tech weakness, led by Intel pressure. Oil dipped below $100 a barrel. Notable movers included SLB, RingCentral, and T-Mobile. A Morgan Stanley note flagged an attractive entry point in a space stock. Light banter touched on LeBron James and a host’s upcoming maternity leave.

• S&P 500 ended little changed with 358 components higher, but tech sector declined, keeping the index flat.
• Intel weighed on the market; Nasdaq 100 saw pressure while the Dow finished higher.
• Brent crude oil slipped below $100 after a strong monthly rise, easing bond market yields slightly.
• SLB rallied ~11% on an earnings beat and emerging data center revenue, with a Buy rating from Melius Research.
• RingCentral surged ~25% after beating Q2 estimates and raising full-year adjusted earnings guidance.
• T-Mobile gained 5.6% despite a revenue miss, supported by KeyBanc and Benchmark analyst comments about discounted valuation.
• Carol Massar relayed a Morgan Stanley note calling the sell-off in space shares an attractive entry point due to AI segment being undervalued.
• Hosts joked about buying oil barrels and made light-hearted references to the upcoming maternity leave of Katie Greifeld.