Wafer Demand

The S&P 500 and Nasdaq rallied, recovering from recent losses, driven by optimism surrounding a potential resolution to the government shutdown. Nvidia led the gains, supported by CEO Huang’s expectation of increased wafer demand. This demand highlights the importance of wafer starts as an indicator of semiconductor market health, benefiting companies like Qnity Electronics. Sector performance was broad, with consumer discretionary and materials showing strength. Attention now turns to upcoming earnings reports and developments in Washington regarding the government shutdown.