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| Money flows back into AI stocks, Nasdaq surges after sell-off. |
Wall Street closed the trading session on June 8th (US time) with more positive signals after the sharp sell-off last weekend. Money flowed back into technology stocks, particularly in the semiconductor and artificial intelligence (AI) sectors, helping the Nasdaq index recover strongly. Meanwhile, the Dow Jones index remained under downward pressure amid concerns about inflation and oil price movements in the energy market.
At the close of trading, the Nasdaq Composite index rose 220.23 points, or 0.9%, to 25,929.66. The S&P 500 index gained 21.99 points, or 0.3%, to 7,405.73. Conversely, the Dow Jones Industrial Average fell 80.77 points, or 0.2%, to 50,786.01. The Russell 2000, representing small-cap companies, rose 0.8%, reflecting a somewhat more stable investor sentiment.
The most positive performance of the session came from technology and semiconductor stocks. After losing more than 4% last week and experiencing one of the sharpest corrections since the beginning of the year, the Nasdaq regained momentum thanks to strong bargain buying. The Philadelphia Semiconductor Index rose more than 6%, marking an impressive recovery for the semiconductor industry after the sector had seen approximately $1 trillion in market capitalization wiped out in its most recent sharp decline.
Intel stood out among chip stocks, rising approximately 12%. This was driven by news that Google had ordered over 3 million of the company's AI processors for deployment between now and 2028. This information is seen as a positive signal for Intel's long-term business prospects amidst the increasingly fierce AI race among global technology corporations.
In addition, Marvell Technology surged nearly 15% after news that the company would be added to the S&P 500 index. Micron Technology also rose nearly 10%, continuing to benefit from expectations of strong demand for memory for AI data centers in the near future. The recovery of semiconductor stocks shows that investor confidence in the long-term growth trend of the AI industry remains unchanged, despite recent controversies regarding valuation.
According to Reuters, the return of buying activity mainly stems from bargain hunting after the sharp correction last weekend. Many fund managers believe the recent decline presents an opportunity to increase holdings in companies with strong growth potential, particularly in the AI and cloud computing sectors.
However, caution remains in the market. The Dow Jones index fell as energy stocks and some consumer businesses were pressured by concerns that inflation could last longer than expected. One of the main reasons is that oil prices continue to remain high following geopolitical tensions in the Middle East.
During trading, Brent crude oil prices surged due to concerns about escalating conflict between Israel and Iran, before cooling down as signs emerged that tensions were easing. Nevertheless, Brent crude closed around $94 per barrel, up about 1.2% from the previous session. The rebound in energy prices has raised concerns that inflationary pressures could persist, potentially impacting the Federal Reserve's monetary policy direction.
The US bond market also reflects this cautious sentiment to some extent. The yield on 10-year US Treasury bonds rose to around 4.56%, indicating that investors are still reassessing inflation risks amid rising energy prices and transportation costs.
One event that drew investor attention during the session was Apple's WWDC (Worldwide Developers Conference). The market expected Apple to announce more AI-related features as well as an upgraded version of the Siri assistant. However, Apple shares fell by about 1.4%, becoming one of the drags on the Dow Jones as the new announcements failed to generate the excitement expected.
Conversely, some companies still recorded positive developments thanks to specific news. Eli Lilly shares rose nearly 3% after announcing favorable results for its next-generation obesity drug. Meanwhile, Corning surged more than 5% after reaching a partnership agreement with Amazon in the fields of materials technology and data infrastructure.
Investors are currently focusing their attention on a range of key economic data this week, particularly the US Consumer Price Index (CPI) report for May. In addition, the earnings results of Oracle and Adobe will also be closely watched to assess the health of the technology sector and the demand for investment in AI.
Overall, the trading session on June 8th showed that Wall Street had stabilized and recovered somewhat after the sharp sell-off last weekend. The return of capital to the technology sector is a positive sign for the long-term market trend. However, risks related to inflation, oil prices, and geopolitical tensions could still create significant volatility in the near future, causing investors to continue maintaining a cautious sentiment.
Source: https://thoibaonganhang.vn/nasdaq-dan-dat-da-hoi-phuc-cua-chung-khoan-my-183197.html
