Tech Giants Lead Stock Market Rally Despite Chip Stock Warning and AI Stock Crash.

Big Tech and blue chip stocks led the stock market upside while small caps posted limited gains. Meta Platforms (META) stock soared 14% after beating Q1 top- and bottom-line estimates. Analysts warn of a major breakdown in the semiconductor sector, with internal breadth much weaker than the broad indexes suggest. The gold futures contract crisscrossed the $2,000 level while stock market players tried to figure out where inflation will be in six to 12 months. The growing commodities downturn suggests that Fed inflation policy is having its intended effect on raw materials prices.