Some big tech shares were holding up Wednesday afternoon as inflation data and questions about the path ahead for interest rates weighed on U.S. stocks.
Tesla (TSLA), Intel (INTC) and Palantir (PLTR) were recently among the top gainers in the S&P 500, which was more broadly edging lower. The tech-focused Nasdaq Composite was ticking lower, but its retreat was less pronounced than that of the other leading indexes.
It’s not exactly full-steam ahead for tech today, but there were a few standout names. Tesla, down substantially in 2025—CEO Elon Musk this week saw his estimated net worth drop below $400 billion for the first time this year—was up 4%. Palantir, the year’s best performer in the benchmark S&P 500, was up nearly as much.
Apple (AAPL) saw its shares edge higher following news of an AI partnership with China’s Alibaba (BABA), with the stock up more than 1%. Intel was up some 6%, extending its year-to-date gains after a brutal 2024.
There were, undoubtedly, losers in big tech as investors worried that stubborn inflation, as measured by the Consumer Price Index, might mean the Fed could keep interest rates higher for longer. Nvidia (NVDA) was recently down more than 1.5%, and the PHLX Semiconductor Index (SOX) edged downward.
All but two of the S&P 500’s 11 sectors were recently in retreat.
:max_bytes(150000):strip_icc()/GettyImages-2198493245-1573dea1de454a82a399c4e870712709.jpg?w=1200&resize=1200,0&ssl=1&description=Tesla%2C+Palantir+Among+Top+Gainers+Today+With+Stocks+Under+Pressure){kind=link}