US Stocks Rebound on Wall Street Amid Tech Gains and Fed Comments
US stocks rebounded on Wall Street after a three-session losing streak. The Dow Jones Industrial Average rose 295.07 points, or 0.56%, to 53,061.95.
The S&P 500 and Nasdaq composite also gained, with the tech-heavy index closing at 26,217.83. Dell, which increased its annual revenue and profit forecast due to rising demand for AI servers, led the rally with a 15.81% jump.
Other tech companies such as Nvidia, Micron, Qualcomm, and SK hynix's American depositary receipt (ADR) also surged between 2-4%. The increase in these stocks was partly driven by comments from US Federal Reserve officials, who suggested that monetary policy may not be sufficient to address inflation.
However, geopolitical risk remained a concern, with anxiety over oil supplies continuing amid clashes between the US and Iran. International oil prices rose for a third straight session, with Brent crude futures increasing 1.04% to $95.63 a barrel.