{"id":1481,"date":"2026-06-09T14:39:23","date_gmt":"2026-06-09T14:39:23","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1481"},"modified":"2026-06-09T14:39:23","modified_gmt":"2026-06-09T14:39:23","slug":"wall-st-rises-as-tech-shares-gain-middle-east-tensions-ease","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1481","title":{"rendered":"Wall St rises as tech shares gain, 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 9 (Reuters) &#8211; Wall Street&#8217;s major indexes advanced on Tuesday, \u200bas technology stocks rose for a second day after last week&#8217;s rout, and easing hostilities in the Middle East \u200caided sentiment.<\/div>\n<div>Shares of chipmakers Intel (INTC.O)<svg><\/svg><span>, opens new tab<\/span>, Broadcom (AVGO.O)<svg><\/svg><span>, opens new tab<\/span> and Micron Technology (MU.O)<svg><\/svg><span>, opens new tab<\/span> added between 1.5% and 3.2%.<\/div>\n<div>Applied Digital (APLD.O)<svg><\/svg><span>, opens new tab<\/span> jumped almost 11% after signing a $5.2 billion AI data center lease with a U.S.-based hyperscaler.<\/div>\n<div>The Philadelphia SE Semiconductor index (.SOX)<svg><\/svg><span>, opens new tab<\/span> gained 2.3%, while the S&amp;P 500 tech index (.SPLRCT)<svg><\/svg><span>, opens new tab<\/span> rose 0.7%.<\/div>\n<div>Technology and AI stocks came under pressure last week, after Broadcom&#8217;s \u200bdisappointing forecast fueled concerns about high valuations in the sector, particularly in chipmakers, which have rallied strongly this year.<\/div>\n<div>&#8220;The reason \u200bwhy I think the market&#8217;s holding on pretty well is that analysts are still not finished raising their \u2060guidance,&#8221; said Ken Mahoney, CEO of Mahoney Asset Management.<\/div>\n<div>Despite concerns about interest rate hikes, inflation and uncertainty in the Middle East, strong \u200bearnings expectations, particularly for tech stocks, were driving markets higher, Mahoney added.<\/div>\n<div>Eight of the 11 major S&amp;P 500 sectors moved higher, with consumer \u200bdiscretionary (.SPLRCD)<svg><\/svg><span>, opens new tab<\/span> gaining the most, up 1.6%.<\/div>\n<div>Alphabet (GOOGL.O)<svg><\/svg><span>, opens new tab<\/span> and Meta (META.O)<svg><\/svg><span>, opens new tab<\/span> rose about 2% each, aiding the communication services index (.SPLRCL)<svg><\/svg><span>, opens new tab<\/span> that moved 1.4% higher.<\/div>\n<div>Iran and Israel said on Monday they had halted attacks on each other after an appeal from U.S. President Donald Trump, settling back into a tenuous ceasefire announced on April 8.<\/div>\n<div>Oil prices fell \u200bmore than 2%, erasing most of the previous session&#8217;s gains, though caution lingered as diplomatic efforts have yet to yield a lasting peace \u200bagreement and the Strait of Hormuz remains shut.<\/div>\n<div>At 09:42 a.m. ET, the Dow Jones Industrial Average (.DJI)<svg><\/svg><span>, opens new tab<\/span> rose 383.86 points, or 0.76%, to 51,169.87, the S&amp;P \u200c500 (.SPX)<svg><\/svg><span>, opens new tab<\/span> gained \u206054.33 points, or 0.73%, to 7,460.06 and the Nasdaq Composite (.IXIC)<svg><\/svg><span>, opens new tab<\/span> advanced 196.75 points, or 0.76%, to 26,126.41.<\/div>\n<div>The small-cap Russell 2000 index (.RUT)<svg><\/svg><span>, opens new tab<\/span> climbed 1.8%.<\/div>\n<div>Optimism surrounding AI and strong growth expectations have underpinned Wall Street&#8217;s record run in recent weeks, with investors now turning to highly anticipated IPOs, including SpaceX and ChatGPT maker OpenAI.<\/div>\n<div>SpaceX&#8217;s $1.75 trillion market debut on Friday could, however, also be a hurdle for U.S. stocks as investors worry about possible \u200boverexuberance among high-growth technology stocks. \u200bElon Musk&#8217;s SpaceX is aiming to \u2060raise $75 billion, the most ever for an IPO.<\/div>\n<div>Consumer prices data for May, due on Wednesday, will be closely watched for fresh clues on how the rise in energy prices due to the Iran war \u200bis impacting inflation.<\/div>\n<div>A stronger-than-expected jobs report on Friday added to concerns that the Federal Reserve will raise \u200binterest rates this \u2060year. Traders are pricing in a 43% chance of a 25 basis point rate hike in December, as per CME Group&#8217;s FedWatch tool.<\/div>\n<div>Among other movers, cancer drug developer Nuvalent (NUVL.O)<svg><\/svg><span>, opens new tab<\/span> surged almost 40% after GSK (GSK.L)<svg><\/svg><span>, opens new tab<\/span> agreed to buy the company for $10.6 billion, in its largest deal in years, valuing Nuvalent \u2060at about $124 \u200bper share, a 40% premium to the stock&#8217;s last closing price.<\/div>\n<div>Advancing issues outnumbered decliners \u200bby a 3.16-to-1 ratio on the NYSE, and by a 2.99-to-1 ratio on the Nasdaq.<\/div>\n<div>The S&amp;P 500 posted 16 new 52-week highs and 4 new lows, while the Nasdaq \u200bComposite recorded 94 new highs and 48 new lows.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1479\">Short-sellers to tread carefully as Musk\u2019s SpaceX debuts<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1477\">Musk\u2019s Starlink leads Bezos\u2019 Amazon as airlines rush to boost in-flight Wi-Fi<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1475\">Platner\u2019s past under scrutiny as he faces voters in crucial Maine Senate primary<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street&#8217;s major indexes advanced on Tuesday, \u200bas technology stocks rose for a second day after last week&#8217;s rout, and easing hostilities in the Middle East \u200caided sentiment.<\/p>\n","protected":false},"author":1,"featured_media":1480,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[54],"class_list":["post-1481","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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