US-Iran Peace Deal Sends Stocks Soaring as Intel Surges
A preliminary agreement between the US and Iran to end their conflict has boosted investor confidence in the market. The S&P 500, Nasdaq, and Dow Jones indices all rose on Thursday.
The S&P 500 jumped 1.1%, while the Nasdaq added 2.5% and the Dow Jones gained 0.1%. This optimism offset concerns about a potential interest rate hike following the US Federal Reserve's monetary policy announcement earlier in the week.
The technology sector also saw significant gains, with Intel stock soaring 10.6% after President Trump announced that Apple would use its foundry services. The VanEck Semiconductor ETF (SMH) surged 6%, while the SPDR S&P 500 ETF (SPY), Invesco QQQ Trust (QQQ), and SPDR Dow Jones Industrial Average ETF Trust (DIA) all gained around 1-2%.