Dow surges over 300 points on chip stock buying, as markets watch Trump's next tariff move

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โดย Kaohoon·Read original

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U.S. stocks advanced, with the Dow Jones Industrial Average soaring more than 300 points, supported by strong corporate earnings. The S&P 500 and Nasdaq were lifted by buying in semiconductor stocks. As of 10:26 p.m. Thailand time, the Dow rose 324.86 points, or 0.63%, to 52,164.12. The S&P 500 gained 61.60 points, or 0.83%, and the Nasdaq climbed 334.30 points, or 1.31%. Shares of 3M jumped more than 9% after reporting second-quarter results that beat expectations. According to FactSet, of the 66 companies in the S&P 500 that have reported earnings so far, 88% posted profits above analyst estimates. Semiconductor stocks rallied strongly, with the VanEck Semiconductor ETF rising more than 3%. Marvell Technology and Micron Technology surged about 6% and 8%, respectively, while Intel gained more than 6%. Meanwhile, investors are also monitoring U.S. trade policy after U.S. Trade Representative Jamieson Greer said President Donald Trump is preparing to announce new import tariffs soon, potentially targeting as many as 60 countries at rates of around 10 to 12.5% under a Section 301 investigation of the Trade Act of 1974, adding uncertainty to global trade and the economy.