The bell is bringing an end to the trading day at the NYSC Newberger-Berman ringing the bell,

and at the NASDAQ, it's winged venture capital.

Welcome to closing bell overtime live from Studio B at the NASDAQ market site.

I'm Mike Santoli.

Melissa Lee has the day off.

Stocks lower across the board, modestly so, the Dow down about 200 points, S&P 500,

down around half a percent, and a loss of about

1 percent for the NASDAQ. Actually, those losses were narrowed near the close. We'll have

much more on the markets coming up. Also on our radar at the close. Earnings from Intel

due out any minute. Will they be strong enough to keep the stocks run going up 50% in April? We also got

earnings today from Huntington Bank. We'll talk to that CEO. And a flood of huge IPOs is coming.

We'll look at how all that money moving into new issues could impact the broader markets.

Let's start with tech as we're once again seeing a big split between chips and software.

Sima Modi joining us now with this divergence Sima.

Yeah, Mike, that's exactly right, the divergence between chips in software.

That was really the big story.

In fact, it was the biggest daily outperformance of chips over software.

Since April 8th, semiconductors getting a lit from Texas instruments.

It's upbeat guide due to high demand for its analog chips that are becoming increasingly crucial to the AI data center buildout.

But the earning story in software failing to really lift confidence today, both ServiceNow and IBM citing the negative impact of the war,

Service Now seeing a 75 basis point hit to subscription revenue growth,

while IBM didn't deliver the upward revision to sales guidance that some analysts were hoping for.

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