Wall Street Gains 0.7% as Tech Rebounds and $5.2 Billion AI Lease Lifts Applied Digital

3 articles · Updated · Reuters · Jun 9

U.S. stocks rose Tuesday morning, with the Dow up 0.76%, the S&P 500 0.73% and the Nasdaq 0.76%, extending a rebound led by technology shares.
Chipmakers helped drive the move: Intel, Broadcom and Micron gained 1.5% to 3.2%, while the Philadelphia Semiconductor index climbed 2.3% after last week's valuation-driven selloff.
Applied Digital jumped nearly 11% after signing a $5.2 billion AI data-center lease, and the Russell 2000 outperformed with a 1.8% rise.
Oil fell more than 2% after Iran and Israel said they had halted attacks, improving risk appetite even as the Strait of Hormuz remained shut and a lasting peace deal was still absent.
Investors are now watching Wednesday's May CPI report and Friday's SpaceX IPO, which seeks $75 billion at a $1.75 trillion valuation, for clues on inflation and tech-market exuberance.

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