Stock Market Update
17-Jul-26 14:30 ET
S&P 500 Slips as Intuitive Surgical, Cadence Design Slide on Growth and AI Concerns
Dow -350.41
at 52202.56,
Nasdaq -338.83
at 25564.12,
S&P -72.66
at 7461.11
[BRIEFING.COM] The S&P 500 (-0.96%) is in second place on Friday afternoon, down about 73 points.
Briefly, S&P 500 constituents Intuitive Surgical (ISRG 350.08, -52.25, -12.99%), Cadence Design (CDNS 328.25, -36.40, -9.98%), and Builders FirstSource (BLDR 74.01, -4.19, -5.36%) dot the bottom of the standings. ISRG slides as investors focused on signs of moderating U.S. procedure growth, softer elective surgery demand, ongoing China challenges, and tariff uncertainty despite a strong Q2 beat and reaffirmed outlook, CDNS falls on worries that AI-powered chip design tools could disrupt the EDA market after Moonshot's Kimi K3 chip design headlines, though analysts argued AI is more likely to expand demand for EDA software rather than replace it.
Meanwhile, HP Inc. (HPQ 24.99, +0.85, +3.52%) is near the top of the standings, posting back-to-back gains totaling +5.2%.
