US Stocks Rebound on Muted Recovery and Mideast Detente
The S&P 500 and Nasdaq rose on Monday following a tech-led selloff as investors reacted to news of a detente between Israel and Iran. While the chip sector saw significant gains, broader market sentiment remained cautious due to rising Treasury yields and concerns over future interest rate paths.
The S&P 500 and NASDAQ rose 0.3% and 0.9% on Monday as geopolitical tensions eased. The recovery followed a 2.6% drop in the S&P 500 and a 4% slide in the Nasdaq on Friday. Investors remain cautious as high bond yields and interest rate concerns temper the rebound in technology shares.
Markets in the United States found support on Monday afternoon following reports of a strike halt between Israel and Iran. Dip-buyers targeted chipmakers, lifting the SOX index 6% after a sharp selloff. INTEL CORP surged 11% while MICRON TECHNOLOGY INC gained 10%.
