Tech Stocks Surge Amid Market Volatility

U.S. stocks closed mostly higher on Monday, driven by gains in the Nasdaq and chipmakers. The market showed resilience despite recent selloffs and geopolitical tensions between Iran and Israel. Key highlights include a jump in the Philadelphia SE Semiconductor Index and Intel’s significant gains.

U.S. stocks made a partial recovery on Monday, with the Nasdaq and chipmakers leading the charge despite recent market volatility. Investors were buoyed by a temporary halt in hostilities between Iran and Israel, as urged by U.S. President Donald Trump. The ongoing geopolitical tension had previously triggered a substantial selloff.

Notably, Apple shares dipped 1.9% even after announcing AI enhancements at its Worldwide Developers Conference. Meanwhile, the S&P 500 tech sector rose 1.5%, and the Philadelphia SE Semiconductor Index rebounded with a hefty 5.6% increase, following Friday's massive devaluation of chipmakers.

Among standout performers, Intel saw an 11.2% surge after a report indicating Google's plan to significantly boost production of tensor processing units by 2028. These developments come amid concerns of possible economic overheating, with Broadcom's underperformance and strong jobs data fueling speculation of impending interest rate hikes.