U.S. stocks rose on June 8 as chipmakers recovered from Friday’s selloff and investors responded to signs that Middle East tensions were easing. The Nasdaq and S&P 500 finished higher, with semiconductors among the day’s strongest areas.
U.S. stocks rose on June 8 as chipmakers bounced back from a Friday selloff and investors took comfort from signs that tensions in the Middle East were easing.
Reuters reported that Wall Street opened higher in morning trade, with semiconductors leading the advance. Later, AP reported that the S&P 500 finished up 0.3% and the Nasdaq composite rose 0.9% at the close.
The market move was driven in part by a recovery in chip-related shares. Reuters said the S&P 500 technology index gained 2.5% and the Philadelphia SE Semiconductor index climbed 6.7%.
The risk backdrop also improved after Reuters reported that Iran and Israel said they had halted strikes on each other for now following an appeal from U.S. President Donald Trump.
The combination of a rebound in semiconductors and a calmer geopolitical tone helped lift major U.S. indexes for the session.
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