US Stocks Climb as Semiconductor Rebound Lifts 3 Major Indices

Major US stock indices rose in unison on the 29th (local time). Investor sentiment towards tech stocks improved, and semiconductor-related stocks rebounded, partially easing the anxiety from the previous weekend. This was attributed to de-escalating tensions between the United States and Iran.

On the New York Stock Exchange that day, the Nasdaq Composite closed up 2.07% at 25820.14, the S&P 500 rose 1.18% to 7440.43, and the Dow Jones Industrial Average gained 0.59% to end at 52182.74.

Semiconductor equipment stocks, which saw significant corrections last weekend, rebounded strongly on expectations of aggressive capacity expansion. ASML Holding surged 4.92%, Applied Materials rose 10.76%, and Lam Research climbed 8.34%. AI chipmaker Nvidia advanced 1.26%, foundry stock TSMC gained 5.26%, and memory chip manufacturer Micron Technology saw a 1.20% increase.

On the Nasdaq, Google's Alphabet jumped 4.82% due to its inclusion in the Dow Jones Industrial Average. SpaceX climbed 7.10% following news of partnership discussions with Charter Communications, and Tesla rose 8.46% on expectations of an 'earnings surprise' in second-quarter vehicle deliveries.

This rally was a result of stabilizing geopolitical conditions in the Middle East combined with positive company-specific news. The US stock market may experience volatility this week due to the Independence Day holiday closure and potential 'window dressing' at the end of the quarter.