New York Stock Market Closes Higher as Semiconductor Rally Resumes; Nasdaq Up 1.9%

The New York stock market closed higher on June 18 (local time) as concerns over energy supply eased following the signing of a memorandum of understanding (MOU) to end the conflict between the U.S. and Iran, and semiconductor stocks rallied across the board.

On this day, the Dow Jones Industrial Average closed at 51,564.70, up 72.15 points (0.14%) from the previous trading session.

The S&P 500 index rose 80.48 points (1.08%) to finish at 7,500.58, while the tech-heavy Nasdaq Composite index climbed 496.28 points (1.91%) to close at 26,517.93.

Following the previous day's decline across all three major indices—triggered by the U.S. Federal Reserve's decision to hold interest rates steady while strongly signaling that the next move could be a rate hike—bottom-fishing buying flowed into the market, particularly in the AI chip sector.

In particular, Intel shares surged 10.64% after U.S. President Donald Trump posted on his social media platform, Truth Social, that "Apple has agreed to partner with Intel to design and manufacture chips within the United States."

Memory semiconductor companies also showed strong gains, with Micron Technology rising 8.7% and SanDisk jumping 11.54%.

SpaceX, which saw a sharp rally during its first three trading days after its debut on the New York stock market last week, fell 3.56% on this day, continuing its downward trend for the second consecutive day following the previous session.

Tony Welch, Chief Investment Officer at investment advisory firm SignatureFD, noted, "The market reacted with surprise yesterday as Federal Reserve Governor Kevin Warsh pledged to curb inflation." However, he assessed that considering the decline in oil prices, strong corporate earnings, and solid economic indicators, these factors are working in favor of the market regardless of the Federal Reserve's policy shifts.
※ Please note: This article was translated by AI and may contain errors.