New York stocks rose across the board, lifted by a rebound in semiconductor-related shares.
On the 9th, the Dow Jones Industrial Average closed at 52,487.41, up 139.02 points, or 0.27%, from the previous session. The Standard & Poor's 500 index rose 60.93 points, or 0.81%, to 7,543.64, while the Nasdaq Composite index jumped 336.24 points, or 1.30%, to 26,206.89.
Among top technology stocks by market capitalization, Apple rose 0.90%, Microsoft gained 0.27%, Amazon added 1.40%, SpaceX climbed 2.60%, Meta advanced 4.70%, and Tesla rose 3.17%. Nvidia (-0.66%) and Alphabet (-0.84%), Google's parent company, fell despite the rising market.
New York stocks caught an upward current as semiconductor-related shares, which had been sluggish, rebounded. In particular, Micron, a memory chip company, announced plans to invest more than $250 billion by 2035 in facilities including US plants to meet growing artificial intelligence (AI) demand, sending related stocks higher across the board. News that SK hynix's American Depositary Receipt (ADR) book-building drew subscriptions exceeding seven times the offering volume also helped improve investor sentiment. Micron rose 4.54%, while AMD gained 5.67%, ASML 2.01%, Intel 2.09%, Applied Materials 3.18%, Broadcom 3.20%, Lam Research 6.01%, ARM 9.20%, SanDisk 7.59%, and Marvell Technology 4.99%.
In the bond market, the yield on the 10-year US Treasury note, the global benchmark, moved around 4.55%, down 0.03 percentage point from the previous session.
International oil prices fell as concerns over an economic slowdown came to the fore. On London's ICE Futures exchange, Brent crude for September delivery settled at $76.30 per barrel, down 2.20% from the previous session, while West Texas Intermediate (WTI) crude for August delivery on the New York Mercantile Exchange settled at $72.08 per barrel, down 1.96%. Minutes from the Federal Reserve's June Federal Open Market Committee (FOMC) meeting, released the previous day, showed heightened concerns over inflation, and China's June producer price index (PPI) growth hit its highest level in four years, adding downward pressure on oil prices.
