Wall Street Rises as Chip Stocks Rebound
U.S. stocks moved higher on Monday as oil prices fluctuated following the latest exchanges of strikes between the United States and Iran. Market sentiment was also supported by a rebound in semiconductor stocks.
The S&P 500 gained 0.6%, while the Nasdaq Composite rose 0.9%. The Dow Jones Industrial Average added 221 points, or around 0.4%.
Investor sentiment improved after Iranian Foreign Ministry Spokesman Esmail Baghaei said mediators were still exchanging messages with Iran. The remarks raised hopes that diplomatic channels between the U.S. and Iran remain open.
Oil prices had initially climbed after the U.S. carried out its ninth consecutive day of strikes against Iran. However, gains were later pared after signs of possible negotiations emerged. WTI traded near US$82 per barrel, while Brent hovered close to US$88 per barrel.
Wall Street was also lifted by chip stocks, which attempted to recover from last week’s sharp losses. The VanEck Semiconductor ETF rose more than 2%, while Micron Technology and Astera Labs each gained around 5%. Teradyne climbed more than 6%, and AMD advanced more than 4%.
Market-wise, the rebound in chip stocks provided fresh support for technology-heavy indexes such as the Nasdaq. However, investors are likely to remain sensitive to developments in the U.S.-Iran conflict, oil prices, and diplomatic signals. If oil prices surge again, concerns over inflation and higher interest rates could return to pressure equities.
Source : Newsmaker.id
