S&P 500, Nasdaq close sharply higher as Broadcom rallies
By Noel Randewich and Ragini
Mathur
Mon July 6, 2026
AI exuberance is back after last week’s setbacks and it sent all three indexes straight up with 3-digit gains on both the Dow and Nasdaq and the S&P also up an impressive 54 points. This was all triggered by strong expectations of a blossoming Q2 earnings season which starts shortly combined with expectations that this boom will continue through the rest of the year. The chip index was up 2.2% after last week’s slump.