The Dow finished Friday’s session with a monster move, jumping 846 points to close at a record high of 45,631.74, after Federal Reserve Chair Jerome Powell said the central bank could start cutting rates next month.

A steep slide in shares of semiconductor companies was dragging on the Nasdaq Composite on Tuesday afternoon, putting the tech-heavy index on track for a rare underperformance versus the Dow Jones Industrial Average.

The Dow Jones Industrial Average clinched a record high Friday for the first time this year hours after Federal Reserve Chair Jerome Powell hinted that the Fed may soon lower interest rates. The Dow climbed 846 points,

Among the Nasdaq 100 stocks, Analog Devices ADI and Palo Alto Networks PANW rallied 3.7% and 1.6%, respectively, making them some of the best performers at the market open. On the downside, Intel INTC and Micron Technology MU tumbled 4.1% and 3.6%, respectively.

U.S. stocks finished mostly lower on Tuesday, after a selloff in megacap technology names weighed on the three major indexes ahead of the Federal Reserve’s annual economic symposium in Jackson Hole, Wyo.

The Dow Jones index closed slightly in positive territory. Nvidia, Palantir both sank Tuesday. A manufacturing services name sold off.

Stocks are lower Wednesday afternoon as selling of AI-related technology names continues and Target names a new chief executive.