Wall Street Rebounds on "Buy-the-Dip" Sentiment; Eyes on CPI

The Nasdaq and S&P 500 have both rebounded.

The Nasdaq successfully turned to gains for the first time in four trading sessions, while the S&P 500 reclaimed the key support level of 7,400 in just one day.

By sector, the technology sector, which had seen significant declines, led the market rally with a rise of over 1%. The energy sector also climbed nearly 1% amid high volatility in international oil prices.

Eased geopolitical risks in the Middle East and an influx of buying in tech stocks revived investor sentiment.

With U.S. President Trump's mediation, Israel and Iran declared a halt to mutual attacks, somewhat calming fears of an all-out war.

As a result, international oil prices, which had been surging, gave back a significant portion of their gains and stabilized, easing downward pressure on the stock market.

Furthermore, market sentiment recovered rapidly as executives from major tech companies, including Nvidia, recently referred to the plunge in semiconductor stocks as a "buy-the-dip" opportunity for artificial intelligence-related shares.

Investors are now focusing on the Consumer Price Index (CPI) for May, which is set to be released on Wednesday, June 10.

This inflation data is expected to be a key indicator for gauging the impact of recent oil price fluctuations on core inflation and determining the Federal Reserve's monetary policy path.

Among individual stocks, the strength of semiconductor shares stood out. Intel surged 11% on news that it had been commissioned by Google to manufacture over 3 million Tensor Processing Units by 2028.

The market is now shifting its attention to Oracle's earnings report this Wednesday and the major initial public offering (IPO) of aerospace company SpaceX scheduled for Friday.
※ Please note: This article was translated by AI and may contain errors.