By Caitlin McCabe and Jack Pitcher
Major stock indexes pared gains today despite several positive earnings reports.
Chip stocks were weaker despite chip-machine supplier ASML delivered an encouraging report card on the AI boom. The Dutch company, which makes the world's most advanced chip-making equipment, reported record orders in its latest quarter and lifted its sales guidance for the second time.
Still, ASML gave up initial gains, and semiconductor stocks in the U.S. were broadly down in afternoon trading. The PHLX Semiconductor fell 3%, dragged lower by declines in Micron, Marvell, Intel and Advanced Micro Devices.
The three major U.S. indexes were trading slightly higher, with Nasdaq up 0.3%. Megacap companies Apple, Alphabet, Microsoft and Amazon.com all traded 3% or more higher, keeping indexes steady.
