Live Nasdaq Composite: Markets Kick Off H2 2026 on Cautious Note amid Chip Stock Profit Taking

The post Live Nasdaq Composite: Markets Kick Off H2 2026 on Cautious Note amid Chip Stock Profit Taking appeared first on 24/7 Wall St..

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Fed Chair Kevin Warsh struck a measured tone Wednesday, declining to signal whether a rate hike is coming at the next meeting and reiterating that policymakers will let incoming data guide their next move. Warsh also reminded Mr. Market that the Fed will remain an independent central bank with no changes to its independence on the horizon. Prediction platform Kalshi is pricing in a 68% probability of a rate hike before July 2027 and a 53% chance of one arriving before year-end.

This article will be updated throughout the day, so check back often for more daily updates.

The Nasdaq Composite opened H2 2026 on a cautious note, falling fractionally as chipmakers pulled back following a record first half for the semiconductor sector. The S&P 500 slipped 0.4% and the Dow shed 184 points, or 0.3%, as investors used the calendar turn as an opportunity to harvest gains in some of the market’s biggest winners.

The profit-taking was most visible in memory chips. Micron Technology (NASDAQ:MU) dropped 7%, though the pullback barely dents a year-to-date gain of roughly 300%. SanDisk (NASDAQ:SNDK) shed nearly 9% after an extraordinary run that saw shares climb more than 850% in the first half alone. Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO) each gave back roughly 2% to 2.5% as well. The context behind the selling matters: the VanEck Semiconductor ETF gained 82% in the first six months of the year, its strongest first-half performance since its inception in May 2000, making some degree of consolidation at the start of the second half hardly surprising.

Here’s a look at where things stand as of early morning trading:

Dow Jones Industrial Average: 52,096 Down 0.40%
Nasdaq Composite: 26,001 Down 0.81%
S&P 500: 7,459 Down 0.54%

Market Movers

Meta Platforms (NASDAQ:META) is building out a cloud business designed to sell outside access to its AI infrastructure, according to Bloomberg, under an internal initiative called Meta Compute. The effort spans three potential service tiers: hosted AI model access along the lines of AWS Bedrock, raw compute capacity in the vein of CoreWeave, and direct developer entry into Meta’s data centers, chips, and proprietary models. The build-out would thrust Meta into direct competition with Amazon, Microsoft, and Google in the cloud infrastructure arena at a moment when demand for AI compute is running well ahead of what the market can supply.

Micron Technology (NASDAQ:MU) and General Motors (NYSE:GM) have signed a strategic supply agreement locking in long-term access to Micron memory and storage across future GM vehicle platforms.

Sony’s (NYSE:SONY) PlayStation is sending physical game discs the way of the dinosaur, announcing it will stop producing disc copies of games starting in January 2028 as the gaming giant makes a full commitment to digital distribution and leaves physical retail behind for good.

The post Live Nasdaq Composite: Markets Kick Off H2 2026 on Cautious Note amid Chip Stock Profit Taking appeared first on 24/7 Wall St..