[New York Stock Exchange] All Major Indices Rise... Gains Limited by Trump’s Threats

Stock Prices Rise on Semiconductor Rebound
Global Oil Prices Edge Lower

On June 11 (local time), all three major indices on the New York Stock Exchange are showing gains. The rebound is driven by strength in semiconductor stocks, but the upward momentum is limited due to threatening remarks by U.S. President Donald Trump regarding Iran.

As of 9:50 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average is up 357.54 points (0.71%) from the previous trading day, standing at 50,276.32. The S&P 500 Index, which focuses on large-cap stocks, has risen 54.00 points (0.74%) to 7,320.99, while the tech-heavy Nasdaq Index has surged 253.14 points (1.00%) to 25,422.64.

New York Stock Exchange. New York, USA – Photo by Yoonjoo Hwang

On this day, President Trump posted on the social networking service Truth Social, warning Iran that "tonight, we will attack very forcefully" and stating, "In the near future, we will seize the Kharg Island and Dar oil infrastructure and gain complete control over Iran's oil and gas markets."

However, the oil market appears unmoved, seemingly having adapted to repeated cycles of tension and relief. On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude is trading at $89.74 per barrel, down 0.30% from the previous session. On the ICE Futures Exchange, Brent crude is down 0.85% at $92.33 per barrel.

Oil majors such as ExxonMobil are down 0.29% and Chevron is down 0.01%. Some energy stocks, including Diamondback Energy (down 0.58%) and APA (down 0.68%), are also declining.

The market is being buoyed by a rebound in semiconductor stocks. Qualcomm is up 3.56%, Micron up 2.97%, AMD up 5.83%, Intel up 10.16%, Nvidia up 0.69%, and TSMC up 1.44%. In particular, Intel has soared after Bank of America upgraded its investment rating from "underperform" to "buy."

This sentiment is also being fueled by heightened investor enthusiasm ahead of the initial public offering (IPO) of SpaceX, which CNBC reports could highlight the growth potential of future artificial intelligence (AI) technology development. Both Goldman Sachs and Morgan Stanley, which are underwriting the listing, are each up 1.24%.

Victoria Fernandez, chief market strategist at Crossmark Global Investments, stated that many investors are now moving in the opposite direction of the AI-related investments that have led the market this year, saying, "In recent months, we are seeing funds shift from technology stocks, which have somewhat declined, to other sectors."

Meanwhile, the U.S. Department of Labor announced that the Producer Price Index (PPI) for May rose 6.5% year-on-year, marking the highest increase since November 2022 (7.4%). On a month-over-month basis, the index was up 1.1%, significantly exceeding the market estimate of 0.7% compiled by Dow Jones.

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