US Stocks Recover on Ceasefire Optimism and Chip Sector
The US stock market rebounded on Monday (June 8th) following signs of cautious de-escalation in the Middle East and an easing of the sell-off in the chip sector. The S&P 500 rose 0.8%, the Nasdaq 100 jumped 1.5%, and the Dow Jones Industrial Average gained 0.4%.
Iran announced it had halted its military operations against Israel following the weekend attacks, while President Donald Trump expressed optimism about progress on the Iran deal, alleviating concerns that escalation would disrupt peace negotiations. Energy prices and Treasury yields, which had risen, have since stabilized, providing additional support for the equity market.
The AI and chip infrastructure sectors are back in focus after last week's sell-off following Broadcom's earnings report. Nvidia rose 2%, while Micron and Marvell each jumped more than 4%, with Marvell scheduled to join the S&P 500 this month.
Investors now await Oracle's earnings results, due Wednesday evening, as the latest benchmark for AI and data center infrastructure investment. Oracle shares rose 2% ahead of the report.
The market showed short-term positive sentiment due to geopolitical optimism and support from the technology sector, although investors remained wary of uncertainty in the Middle East and potential energy price fluctuations.
Source: Newsmaker.id
