Nasdaq Rises 0.88% as Chip Stocks Rebound and Oil Drops Below $90
Updated
Updated · 24/7 Wall St. · Jun 9
Nasdaq Rises 0.88% as Chip Stocks Rebound and Oil Drops Below $90
3 articles · Updated · 24/7 Wall St. · Jun 9
Summary
26,165 on the Nasdaq marked a 0.88% gain Tuesday, with AI shares recovering and semiconductor stocks posting a second straight day of advances after Friday’s selloff.
WTI crude fell more than 3% to below $90 a barrel after Trump said a U.S.-Iran agreement could come within two or three days and reopen the Strait of Hormuz.
Micron jumped nearly 4%, extending a rebound from last week’s roughly 20% slide, while the iShares Semiconductor ETF added another 2% after Friday’s 10% plunge.
Morgan Stanley lifted Apple’s price target to $360 from $330 on a faster AI monetization outlook, and UBS kept a Buy on Micron with a $1,625 target.
Goldman Sachs and Barclays still warned the calmer session was not an all-clear, citing crowded momentum trades, weak market breadth and higher-for-longer rates as risks for renewed volatility.