Intel Corp. (NASDAQ:INTC) stock rose about 5% on Monday as investors returned to semiconductor and large-cap technology stocks in a broader risk-on market.
Investors may also be positioning ahead of Intel’s second-quarter earnings report, scheduled for July 23.
The Nasdaq gained 0.84%, while the S&P 500 added 0.32%. Technology led all sectors with a 0.89% advance.
The stock outperformed even as overall market breadth remained weak, with the advance-decline ratio at 0.8. The Russell 2000 rose 0.11%, while the Dow Jones Industrial Average slipped 0.13%. Materials was the weakest sector, down 0.51%.
Intel Expands Google Cloud Partnership
