Dow Closes Up 385 Points, Nasdaq Surges Over 1% on Semiconductor Rebound

Price ActionCommodity

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All three major US stock indices closed higher, with the Dow gaining 385 points and the Nasdaq surging over 1%, supported by a rebound in semiconductor stocks. The Philadelphia SE Semiconductor Index jumped 5.2% for a second straight day, after previously falling more than 20% below its record high. Nvidia rose nearly 2% after disclosing a stake in Nebius, while Micron Technology soared 12% and Intel gained 8%. Investors await earnings reports from major tech companies including Alphabet, Intel, and Texas Instruments, amid uncertainty over new US tariffs on Canada and conflict in the Middle East. Meanwhile, Brent crude oil prices surged 2% to breach 90 dollars a barrel after a Saudi oil tanker was forced to turn back in the Red Sea due to threats from Houthi rebels.