[New York Stock Exchange] Semiconductor Rebound... S&P 500 and Nasdaq Close Higher

Decision to Halt Attacks Between Iran and Israel

Amid announcements from both the United States and Israel that they would halt attacks, the semiconductor sector managed to rebound, leading to a mixed close for the three major U.S. stock indices on June 8 (local time).

At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 50,786.01, down 80.77 points (0.16%) from the previous trading day. The S&P 500, which focuses on large-cap stocks, rose 21.99 points (0.30%) to end at 7,405.73. The tech-heavy Nasdaq gained 220.231 points (0.86%) to finish at 25,929.663.

View of the New York Stock Exchange. New York, USA – Photo by Yoonju Hwang

On this day, the New York market saw notable gains in artificial intelligence (AI) and semiconductor stocks. Key stocks finished higher, including Nvidia (up 1.73%), Intel (up 11.19%), Micron Technology (up 9.87%), Marvell Technology (up 9.63%), and Broadcom (up 2.82%). The iShares Semiconductor ETF also ended the day up 5.87%.

In addition, the decision by Israel and Iran to halt attacks helped ease heightened tensions in the Middle East, which appeared to bolster the S&P 500 and Nasdaq. However, as the ceasefire remains unstable, oil prices closed higher.

Israel announced that it would cease attacks on Iran. However, the country stated that clashes with Hezbollah, the Iran-backed militant group in Lebanon, would continue. An Israeli official told an Israeli Hebrew-language outlet that this decision was made at the request of U.S. President Donald Trump.

According to CNN and other sources, President Trump held another phone call with Israeli Prime Minister Benjamin Netanyahu on the day, following a call the previous day. The call took place before Iran announced it would halt its military operations against Israel.

William Noshi, Chief Investment Officer at US Bank Asset Management, commented, "The market is currently assessing catalysts and potential risks and evaluating their magnitude," adding, "Solid U.S. fundamentals—such as consumer sentiment, capital expenditures, and corporate earnings cycles—are largely offsetting the risks related to the Middle East conflict."

He added, "The longer the conflict continues, the more likely it is that inflationary pressures will go beyond temporary levels and cause greater damage to fundamental economic activity."

The market’s attention this week is focused on the upcoming Consumer Price Index (CPI) release and the initial public offering (IPO) of Elon Musk’s SpaceX. CNBC reported that this IPO is expected to be the largest in Wall Street history and could serve as the biggest test for the market’s valuation of artificial intelligence (AI).

Meanwhile, on the New York Mercantile Exchange, July delivery West Texas Intermediate (WTI) crude oil rose 0.84% from the previous session to $91.30 per barrel. On the London ICE Futures Exchange, August delivery Brent crude increased by 1.25% to $94.25 per barrel.

According to Investing.com, the yield on the 10-year U.S. Treasury finished at 4.569%, up 2.8 basis points (1bp=0.01 percentage point) from the previous session. The 30-year U.S. Treasury yield closed at 5.038%, up 3.9 basis points from the previous session.

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