[New York Stock Exchange] All Major Indexes Rise as Iran Halts Attacks and Semiconductor Stocks Rebound

With Iran halting its attacks on Israel and semiconductor stocks rebounding, all three major indexes on the New York Stock Exchange showed gains on June 8 (local time).

As of 10:16 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (Dow) was up 115.65 points (0.23%) from the previous session, standing at 50,982.43. The S&P 500 Index, which is weighted toward large-cap stocks, rose 41.16 points (0.56%) to 7,424.01, while the tech-heavy Nasdaq gained 210.166 points (0.82%) to reach 25,916.896.

New York Stock Exchange. New York, USA – Special Correspondent Yoonju Hwang

On this day, Israel decided to halt airstrikes against Iran but will continue its engagements with Hezbollah, the pro-Iranian armed group in Lebanon. An Israeli official confirmed to Israeli Hebrew-language media that "this decision was made at the request of U.S. President Donald Trump."

Iran's Ministry of Foreign Affairs told CNBC on Monday that the Iranian military has ended its military operations against Israel. However, Iran warned that it would resume hostilities if Israel continues its attacks on Lebanon.

At this time, on the New York Mercantile Exchange, West Texas Intermediate (WTI) crude oil was up 0.77% from the previous session, trading at $91.18. On the ICE Futures Exchange, Brent crude was up 1.42% from the previous session, standing at $94.41.

Energy and fertilizer-related stocks rose, while travel stocks declined. Chevron and ExxonMobil both climbed more than 1%, whereas United Airlines and Delta Air Lines were down about 0.2%.

The Philadelphia Semiconductor Index, which includes leading companies in the semiconductor industry such as Nvidia, Intel, and AMD, surged 5%. Marvell Technology rose 9.6%, and Flex gained 2.8%. Bloomberg reported that these two companies are expected to replace Pool Corp. and Campbell's in the S&P 500 Index before the market opens on June 22, which analysts say is fueling the upward trend.

Jimmy Lee, CEO of Wealth Consulting Group, said, "If today's rebound holds, it could provide another good buying opportunity for investors," but also pointed out, "Inflation indicators are very important for easing investors' concerns about the possibility of interest rate hikes."

Bond traders expect that the inflation data to be released this week will show a sharp rise in consumer prices, which would further increase the pressure on the Federal Reserve (Fed) to raise interest rates.

Kelly Cox, Chief Market Strategist at Ritholtz Wealth Management, commented, "The stock market seems to be facing the paradox of success," adding, "The job market has recovered, but persistent high inflation remains an underlying concern for everyone."

She continued, "Since the March lows, growth and momentum have outpaced almost everything else. This is an unexpected phenomenon in a high-interest-rate, high-inflation environment, and if cost pressures remain elevated, these strategies could lead to disappointing results."

This content was produced with the assistance of AI translation services.