Semiconductor Index Climbs 3% as U.S. Stocks Extend Gains

U.S. stocks extended gains Monday morning as the Philadelphia Semiconductor Index rose 3%, outpacing a 1% increase in the S&P 500 and putting chip shares at the front of the advance.

The Nasdaq Composite gained 1.3% around 11:06 a.m. ET (15:06 UTC) on Oct. 26. Its move was larger than the S&P 500’s but smaller than the semiconductor index’s rise. The three percentages describe the same late-morning point in U.S. trading, allowing a direct comparison of the indexes’ moves.

The semiconductor index’s 3% climb was triple the S&P 500’s gain and more than twice the Nasdaq Composite’s increase. Gains in the two wider indexes showed that the advance extended beyond chip shares, even as the semiconductor benchmark posted the strongest move of the three.

These were intraday readings, recorded before the U.S. closing bell. They show where the indexes stood in late-morning trading, not their final returns for Monday’s session.