US STOCKS-Wall St Indexes Advance with Boost From Chips, Iran Optimism
Semiconductor shares lifted the Nasdaq as investors saw a U.S.-Iran peace deal easing inflation pressure, even as the Federal Reserve remained expected to raise rates.
- On Thursday, the Nasdaq Composite index rallied 1.9% as semiconductor shares surged following a peace agreement between the U.S. and Iran, helping ease inflation fears.
- Oil prices slid to their lowest levels since early March after the U.S. and Iran signed an interim agreement extending the April ceasefire by 60 days.
- Semiconductor shares led gains as Intel shares jumped to a record high, finishing up 10.6%, while the Philadelphia semiconductor index rallied 6.4%; President Donald Trump announced Apple agreed to work with Intel on U.S. chip manufacturing.
- Despite the rally, traders are betting on a roughly 50% chance of a 25-basis-point rate hike in September, while Chair Kevin Warsh signaled continued focus on curbing inflation.
- Thursday also featured 'triple witching', the simultaneous expiry of derivatives contracts that can increase volatility, while first ships started sailing through the Strait of Hormuz amid easing geopolitical tensions.
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11 Articles
Wall Street indexes advance
U.S. stock indexes rallied Thursday, with the Nasdaq's 1.9% advance boosted by gains in semiconductor shares, while inflation fears eased after the U.S. and Iran signed a peace deal, though investors still priced in interest rate hikes this year from…
US stocks: US market's indexes advance with boost from chips, Iran optimism
U.S. stock indexes rose Thursday, led by semiconductor shares and easing inflation fears, despite anticipated Federal Reserve interest rate hikes. Intel surged to a record high after President Trump announced a deal for U.S.-based chip design and manufacturing. Oil prices slid as the U.S. and Iran extended an interim agreement, allowing for continued passage through the Strait of Hormuz.
Wall Street indexes advance on chip gains and Iran optimism, Bitcoin holds steady
The semiconductor rally and US-Iran peace optimism may ease inflation and influence Fed rate decisions, impacting broader market dynamics. The post Wall Street indexes advance on chip gains and Iran optimism, Bitcoin holds steady appeared first on Crypto Briefing.
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