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Chip Stocks Lend Support as Wall Street Edges Higher Despite Valuation Concerns
US stocks moved marginally higher as semiconductor shares advanced, countering worries over elevated S&P 500 valuations. Market participants stayed selective, favouring AI-linked chip stocks while remaining cautious amid interest rate and valuation pressures.
US equities edged higher as gains in semiconductor stocks helped offset concerns around stretched valuations in the S&P 500. Investors selectively bought chipmakers on optimism around AI-driven demand, while broader market sentiment remained cautious amid high interest rates and mixed macro signals. Analysts noted that upside momentum is narrow, with leadership concentrated in technology, even as valuation debates continue to cap broader risk appetite.