Wall Street's tech bulls celebrated US and Iran's latest breakthrough to achieve a truce deal and end the nearly 4-month long Middle East conflict.
From Nvidia Corp. to Apple Inc. — all of the magnificent seven stocks rose in trade on Monday. Elon Musk's newly listed Space Exploration Technologies Corp. or SpaceX extended gains on its first full-day trade.
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Investors' showed faith in AI-linked companies and chipmakers such as Micron Technology Inc., Advanced Micro Devices Inc. and Intel Corp.
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Nvidia shares rose nearly 3% shortly after opening to a high of $211, later they pared gains to trade 1.9% higher. The Jensen-Huang chipmaker announced that it is planning to raise a minimum of $20 billion in its first high-grade bond sale since 2021.
ALSO READ: Nvidia Shares In Focus As AI Chips Bellwether Plans Raising $20 Billion Via Bond Sale
Major upside was also seen in Meta Platforms Inc. which rose 5% to $593.71, Amazon.com Inc. rose over 4% to $247.81, along with Alphabet Inc. which reached an intraday high of $372.15.
Tesla was up 2% to $416 and later pared gains to trade 1.2% higher, Microsoft Corp. rose over 2% to nearly $400, and Apple Inc.traded near day's high of $296.3, up 1.7%.
Shares of Micron and AMD soared nearly 9% to intraday highs of $$1,076.79 and $558.37. Intel's stock had initially risen over 7% to $132.61 but later pared gains to trade 2.9% higher near day's low.
SpaceX extended its listing day gains into the second day of trade and rose as high as over 8% to $175 after closing at $160 levels on Friday. The scrip pared some gains to trade 7% higher at $172.27.
Big Tech Gains Boost Nasdaq
Investors' bullish sentiment for American big tech lifted the Nasdaq Composite index 3% to an intraday high of 26,560.34. The tech-heavy index pared some gains to trade 2.4% higher at 26,511.30 as of 10:45 a.m. EST. The index has zoomed 34.5% in the last 12 months and 14% year-to-date.
Wall Street At Open
S&P 500 surged 1.27% or 100 points to open at 7,531.51, tech-heavy Nasdaq Composite soared 2.27% to 26,477.13; while Dow Jones Industrial Average added 587 points to rise 1.15% and open at an intraday high of 51,789.64.
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