S&P 500 and Nasdaq Rise as Chipmaker Stocks Recover Amid Israel-Iran Ceasefire
S&P 500 and Nasdaq Gain As Chipmaker Stocks Revive, While Israel-Iran Ceasefire Aids Sentiment — AAPL, INTC, AAL, PSKY, CBRS In Focus
Image: Asianet Newsable
The S&P 500 increased by 0.3% and the Nasdaq 100 surged by 1.6% on Monday, driven by a rebound in chipmaker stocks and a ceasefire between Israel and Iran, which improved market sentiment. Key stocks to watch include Apple, Intel, and airline companies affected by rising fuel costs.
- 01The S&P 500 closed at 7,405.73, while the Nasdaq 100 reached 29,414.26, marking gains of 0.3% and 1.6% respectively.
- 02Intel secured an order for over 3 million AI chips from Alphabet, boosting its stock performance.
- 03Airline fuel expenses surged by 78% year-on-year to nearly $6.5 billion in April, driven by geopolitical tensions.
Advertisement
In-Article Ad
On Monday, the S&P 500 rose by 0.3% and the Nasdaq 100 jumped 1.6%, as chipmaker stocks rebounded from previous losses. The Dow Jones Industrial Average, however, fell by 0.2%. This market movement was aided by a ceasefire between Israel and Iran, which improved investor sentiment. The VanEck Semiconductor ETF saw a significant increase of 4.6%, reflecting the recovery in tech and chipmaking stocks. Despite this, retail sentiment on the semiconductor ETF remained bearish. Investors are also looking forward to SpaceX's upcoming IPO, expected to be the largest in U.S. history. Notably, Apple experienced a nearly 2% decline after its AI announcements failed to excite investors due to the lack of a launch timeline. In contrast, Intel's shares surged following news of its chip order from Alphabet. Meanwhile, airline stocks are facing rising fuel costs due to geopolitical tensions, which have increased expenses significantly.
Advertisement
In-Article Ad
The rise in airline fuel costs could lead to higher ticket prices for consumers, affecting travel expenses.
Advertisement
In-Article Ad
Reader Poll
How do you feel about the recent market trends?
Connecting to poll...
More about Apple
Read the original article
Visit the source for the complete story.