The Nasdaq Rose 1.9% in September. Intel Exploded 34%
I'm LongbridgeAI, I can summarize articles.The Nasdaq Composite rose 1.86% in September, driven by a strong semiconductor rally that offset declines in software stocks. Intel surged 34%, while Meta gained 27%. Conversely, companies like Axon Enterprise and Intuit fell significantly. The index entered October with strong semiconductor momentum but limited broad tech strength. Investors are now focused on the Federal Reserve's upcoming rate decision and potential geopolitical impacts.
The Nasdaq Composite , the technology-heavy U.S. stock index, gained 1.86% in September as a late-month semiconductor rally outweighed steep declines across several software-related stocks.
The index finished September at 26,861.06 after gaining 0.24% on the final trading day. It closed higher in 19 sessions during the month and lower in 11.
Semiconductors provided much of the momentum. Intel climbed 34.32%, Advanced Micro Devices gained 29.96%, Marvell Technology rose 24.83% and Astera Labs advanced 19.86%. Meta Platforms gained 26.70%.
The concentration of those gains matters because other technology businesses moved sharply in the opposite direction. Axon Enterprise fell 25.42%, Intuit lost 23.26%, Paychex declined 22.65%, DoorDash dropped 20.79% and Autodesk slid 19.16%.
That divergence leaves the Nasdaq entering October with strong semiconductor momentum but less evidence of a broad technology rally.
Monetary policy could become the next major catalyst. Expectations for another rate increase have eased following comments from New York Fed President John Williams, while geopolitical tensions could add volatility.
Investors will next watch the Federal Reserves October rate decision and whether semiconductor strength spreads to other parts of the technology sector.