Chip Rout and Bank Misses Cap Wall Street gains

US markets were mixed as early earnings disappointed, semiconductor stocks extended losses on rising global competition, and energy prices stayed elevated amid geopolitical tensions. Bond yields eased ahead of key CPI data.

In India, Nifty reversed sharply on expectations of tax relief and improving sentiment. Strength in the rupee and a breakout above short‑term averages support a near‑term buy‑on‑dips bias.