Nasdaq Jumps 1.3% as Chip Stocks Rally and Oil Prices Fall
Updated
Updated · CNBC · Jul 8
Nasdaq Jumps 1.3% as Chip Stocks Rally and Oil Prices Fall
3 articles · Updated · CNBC · Jul 8
Summary
The Nasdaq climbed 1.30% to 26,206.89 on Thursday, while the S&P 500 rose 0.81% and the Dow added 139.02 points as U.S. stocks recovered despite renewed U.S.-Iran tensions.
Semiconductors led the move: the VanEck Semiconductor ETF gained 2.5%, Micron rose 4.5%, and Sandisk jumped 7.6%, while lower crude prices eased some inflation and geopolitical pressure.
Oil fell even after a second straight day of U.S. strikes on Iran, following Tehran-linked attacks on shipping near the Strait of Hormuz, after Trump said Iran had called to make a deal.
The rebound extended abroad, with the Stoxx 600 up 0.8%, Japan's Nikkei up 1.4%, South Korea's Kospi up 0.62%, and China's CSI 300 up 2.5%, though Hong Kong's Hang Seng slipped 0.7%.
Investors still face a volatile backdrop, with Verdence's Megan Horneman warning the conflict could keep inflation elevated and markets may be underpricing at least one Fed rate hike in the second half of 2026.