Tech Stocks Rise Amid U.S.-Iran Tensions and AI Revenue Boost

The S&P 500 and Dow fell slightly amid U.S.-Iran tensions, while some technology stocks, including those linked to Anthropic’s strong revenue forecast, rose. Chipmakers led technology gains, with markets keenly watching Nvidia's upcoming results. Concerns over AI investments were lessened by positive forecasts and robust quarterly results.

The S&P 500 and Dow Jones Industrial Average edged lower on Monday, reflecting heightened tensions between the U.S. and Iran. Despite this, some technology stocks showed gains following Anthropic’s reported strong revenue forecast, boosting optimism among investors.

A senior Iranian official indicated that Tehran would intensify actions in the Strait of Hormuz if diplomatic efforts with the U.S. fail, prompting a rise in Brent crude futures by 0.3% and a 0.2% increase in the S&P 500 energy index.

Tech stocks outperformed, driven by gains in Western Digital and Sandisk. Meanwhile, Nvidia's upcoming results are highly anticipated as they could affirm sustained tech momentum. Concerns about AI investment returns were mitigated by positive financial forecasts, helping the Nasdaq approach its all-time high.