{"id":1386,"date":"2026-06-08T14:40:39","date_gmt":"2026-06-08T14:40:39","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1386"},"modified":"2026-06-08T14:40:39","modified_gmt":"2026-06-08T14:40:39","slug":"wall-st-gains-as-chips-rebound-middle-east-tensions-ease","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1386","title":{"rendered":"Wall St gains as chips rebound, Middle East tensions ease"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 8 (Reuters) &#8211; Wall Street&#8217;s major indexes \u200badvanced on Monday, as chipmakers bounced back from a sharp selloff last week, while investors took comfort from signs of cooling \u200ctensions in the Middle East.<\/div>\n<div>Intel (INTC.O)<svg><\/svg><span>, opens new tab<\/span> shares jumped 8.5%. The Information reported that Alphabet (GOOGL.O)<svg><\/svg><span>, opens new tab<\/span> had tapped the company to make 3 million in-house chips, while Nvidia was evaluating their technology.<\/div>\n<div>The S&amp;P 500 tech sector index (.SPLRCT)<svg><\/svg><span>, opens new tab<\/span> gained 1.9%, while the Philadelphia SE Semiconductor index (.SOX)<svg><\/svg><span>, opens new tab<\/span> advanced 4.6%, rebounding from Friday&#8217;s sharp decline that wiped out $1 trillion in \u200bmarket value for U.S.-listed chipmakers.<\/div>\n<div>Shares of Nvidia (NVDA.O)<svg><\/svg><span>, opens new tab<\/span> and Broadcom (AVGO.O)<svg><\/svg><span>, opens new tab<\/span> rose 1.7% and 2.8%, respectively, while Micron Technology (MU.O)<svg><\/svg><span>, opens new tab<\/span> soared 8.7%.<\/div>\n<div>Expectations of tighter monetary \u200bpolicy and underwhelming results from Broadcom last week had raised concerns that the sector was growing too fast, prompting traders to retreat after \u2060a strong run this year.<\/div>\n<div>&#8220;Sometimes these moves get too far too fast and you need a bit of a pullback. And, that \u200bpullback is likely going to find investment in other sectors,&#8221; said Art Hogan, chief market strategist at B Riley Wealth.<\/div>\n<div>Four out of \u200bthe 11 major S&amp;P 500 indexes were in the green.<\/div>\n<div>Further helping the mood, Iran&#8217;s military announced that its first wave of attacks on Israel since a ceasefire in April was now over. Israel has halted strikes on Iran at the request of U.S. President Donald Trump, a senior Israeli official was cited as saying \u200bby Channel 12.<\/div>\n<div>Attacks between the two countries had pushed up oil prices by more than 5% earlier on Monday. Crude prices , were last \u200bup less than 2%. Energy shares (.SPNY)<svg><\/svg><span>, opens new tab<\/span> rose 1.3%.<\/div>\n<div>At 09:37 a.m. ET, the Dow Jones Industrial Average (.DJI)<svg><\/svg><span>, opens new tab<\/span> rose 146.11 points, or 0.29%, to 51,015.91, the S&amp;P 500 (.SPX)<svg><\/svg><span>, opens new tab<\/span> \u200cgained 50.54 \u2060points, or 0.68%, to 7,434.28 and the Nasdaq Composite (.IXIC)<svg><\/svg><span>, opens new tab<\/span> gained 280.09 points, or 1.09%, to 25,989.52.<\/div>\n<div>Much stronger-than-expected jobs data for May also contributed to Friday&#8217;s rout, as traders priced in interest rate increases this year. Pricing in interest rate futures implies a 42% chance that the Federal Reserve will hike rates by 25 basis points in December, per CME Group&#8217;s Fedwatch tool.<\/div>\n<div>Wednesday&#8217;s consumer prices report for May could offer investors fresh insights on how \u200bthe rise in energy prices due \u200bto the Iran war is \u2060impacting inflation.<\/div>\n<div>Citigroup was the latest brokerage to raise its 2026-end target for the S&amp;P 500 (.SPX)<svg><\/svg><span>, opens new tab<\/span> to cross the 8,000 mark, citing corporate earnings resilience and AI-driven growth.<\/div>\n<div>Relentless optimism around AI has aided Wall Street&#8217;s recent \u200brecord run, but lingering concerns over the economic impact of the Iran war have clouded investor \u200bsentiment.<\/div>\n<div>Among other movers, Marvell Technology (MRVL.O)<svg><\/svg><span>, opens new tab<\/span> \u2060jumped almost 10% with the chipmaker set to join the benchmark S&amp;P 500 before the start of trading on June 22. Flex (FLEX.O)<svg><\/svg><span>, opens new tab<\/span> was marginally up after the electronics manufacturer also secured a spot.<\/div>\n<div>Eli Lilly (LLY.N)<svg><\/svg><span>, opens new tab<\/span> advanced 2.3% after the drugmaker&#8217;s trial results showed its next-generation obesity drug retatrutide \u2060curbed sleep \u200bapnea severity in addition to boosting weight loss and helping knee pain.<\/div>\n<div>Advancing issues outnumbered \u200bdecliners by a 1.76-to-1 ratio on the NYSE and by a 1.97-to-1 ratio on the Nasdaq.<\/div>\n<div>The S&amp;P 500 posted 5 new 52-week highs and 4 new lows while \u200bthe Nasdaq Composite recorded 47 new highs and 57 new lows.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1384\">Five ways Elon Musk\u2019s SpaceX upended Wall Street\u2019s IPO playbook<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1382\">Gwynne Shotwell, the \u2018glue\u2019 executing Musk\u2019s lofty SpaceX ambitions<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1380\">Saving Siri: After two years of stumbles, is Apple\u2019s AI moment here?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street&#8217;s major indexes \u200badvanced on Monday, as chipmakers bounced back from a sharp selloff last week, while investors took comfort from signs of cooling \u200ctensions in the Middle East.<\/p>\n","protected":false},"author":1,"featured_media":1385,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[54],"class_list":["post-1386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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