Nasdaq Rises 0.9% on Tech Rebound; Micron Shares Surge 9.9%

New York stocks rebounded on June 8 (local time), led by bargain hunting in tech and semiconductor stocks that had plummeted last week.

The S&P 500 index closed at 7,405.73, up 21.99 points (0.30%) from the previous session, while the tech-heavy Nasdaq Composite index finished at 25,929.66, up 220.23 points (0.86%).

The Philadelphia Semiconductor Index (SOX), which had fallen last week due to concerns over market overheating and receding expectations for interest rate cuts this year following stronger-than-expected employment data, rose more than 5.8% today, recovering much of the losses from the previous trading day.

Micron shares rose 9.9% today after a sharp decline of over 13% in the previous session, and Intel surged following reports that Google would entrust the production of its next-generation AI Tensor Processing Units (TPUs) to the company.

On the other hand, Apple saw its stock price weaken as investors felt the company failed to meet high expectations, despite unveiling an AI-enhanced voice assistant, Siri, at its annual Worldwide Developers Conference (WWDC).

Easing tensions in the Middle East also supported investor sentiment.

Risk appetite recovered slightly following news that Israel and Iran, which had exchanged fire over the weekend, agreed to halt further attacks.

International oil prices had jumped more than 5% during intraday trading due to the armed conflict between the two sides but pared gains after the announcement of the ceasefire.

Brent crude futures for August delivery closed at $94.25 per barrel, up 1.25% from the previous session, while West Texas Intermediate (WTI) crude for July delivery settled at $91.30, up 0.84%.
※ Please note: This article was translated by AI and may contain errors.