The S&P 500 ended the session mixed on Wednesday, with notable divergences among heavyweight sectors. Intel extended its rally on renewed confidence in its turnaround strategy, while mining giant Freeport-McMoRan slipped as commodity markets weakened. The day’s moves reflected broader investor caution as market participants awaited U.S. economic indicators and Federal Reserve signals.

Intel’s Momentum Continues

Intel shares gained further ground, adding to recent momentum following reports of potential strategic partnerships, including discussions with major technology players. The company has been under pressure in recent years due to delays in advanced chip manufacturing and intensifying competition from rivals like Nvidia and TSMC. Yet, investors appear increasingly optimistic that Intel’s aggressive investments in U.S. and European fabs, supported by policy incentives, could pay off.

Intel’s rally also highlights renewed confidence in the semiconductor sector as demand for artificial intelligence infrastructure and advanced computing power accelerates. The company’s performance in recent sessions has contributed positively to the S\&P 500’s technology subindex, offsetting weakness in other areas of the market.

Freeport-McMoRan Under Pressure

By contrast, Freeport-McMoRan shares fell, weighed down by declining copper prices and investor concerns about global demand. Copper, often viewed as a bellwether for global economic activity, has faced headwinds from signs of slowing growth in China and uncertainty over industrial demand. The commodity’s retreat has directly impacted miners, particularly Freeport, which remains heavily exposed to price swings.

Investors are closely watching China’s economic indicators, as any sustained weakness in the world’s second-largest economy could continue to pressure copper demand and related equities. Freeport’s performance underscores the challenges facing commodity-linked stocks in an environment of uneven global growth.

Broader Market Sentiment

The S&P 500 itself traded in a narrow range, reflecting a wait-and-see approach by investors. While technology names helped support the index, weakness in materials and energy offset those gains. Treasury yields remained relatively stable, and the dollar index traded without major moves, suggesting markets were positioning cautiously ahead of upcoming U.S. GDP and inflation reports.

Market participants are balancing optimism about corporate earnings in select sectors with concerns about global demand and monetary policy direction. For international investors, including in Israel, the crosscurrents in equities, commodities, and currency markets remain a key factor in shaping portfolio strategies.

Looking ahead, traders will monitor U.S. macroeconomic data alongside corporate updates to assess whether recent sectoral divergences will widen or narrow. Intel’s rally highlights opportunities in technology, while Freeport’s decline underscores ongoing risks in commodity-linked equities. The interplay between these forces will likely set the tone for the S&P 500 in the coming weeks.