Stocks Settle Higher as Chipmakers Rally

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Summary · why it matters

U.S. stocks settled higher on Tuesday, with the S&P 500 and Nasdaq 100 reaching one-week highs, driven by a rally in chipmakers and AI infrastructure stocks. The S&P 500 rose 0.79%, the Dow added 0.26%, and the Nasdaq 100 surged 1.68%. Gains were fueled by stronger-than-expected U.S. economic data, including a surprise increase in May job openings to a two-year high of 7.594 million, and optimism for robust second-quarter earnings, with Bloomberg Intelligence forecasting a 23% increase. Chip stocks led the advance, with SanDisk up more than 10%, KLA Corp up more than 8%, and AMD and Marvell Technology up more than 7%. Cryptocurrency-exposed stocks fell as Bitcoin dropped over 2%, with Strategy down more than 6%. WTI crude oil declined over 1%, giving back part of Monday's surge, as markets awaited U.S.-Iran negotiations in Doha.

Impact on assets 36

Artificial Intelligence▲ · 11 stocks
Semiconductors▲ · 9 stocks
Digital Finance & Tokenization▲ · 5 stocks
Financials▲ · 4 stocks
Defense & Geopolitical Fragmentation▲ · 2 stocks
Energy Transition & Power Demand▲ · 1 stocks
Cybersecurity & Digital Trust▲ · 1 stocks
Spatial Computing / AR/VR▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
Information Technology▲ · 1 stocks
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