Wall Street rebounded cautiously at open on Thursday after a sharply lower end in the previous session. The sentiment was lifted as some of the tech giants also bounced back after a rout.
S&P 500 opened 0.42% higher at 7,297.59, tech-heavy Nasdaq Composite rose 0.52% to 25,299.83 and the Dow Jones Industrial Average was up 0.46% or 227 points to 50,146.61 at open.
Tech majors, specifically chipmakers like Nvidia Corp. and Micron Technology corrected from their rout and rose over 1% and 2% to $202.7 and $911.3.
Shares of Advanced Micro Devices Inc. surged 6% to a high of $478, Microchip Technology Inc. was up 3% to $90.56. Although, Intel Corp. topped the chipstock rally after rising nearly 11% to $118.5 after a double upgrade from BofA.
Rise in US market indices comes amid mixed signals regarding the Iran war. After conducting a round of attacks on Tehran, Donald Trump warned of fresh, harder strikes tonight; however, he followed it up by saying that he would 'rather have a deal'.
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"The United States will be hitting Iran (Whose Navy, Air Force, Radar, Anti Aircraft, and all other forms of Defense, together with most of its offensive capability, are GONE!), VERY HARD TONIGHT," Trump stated in a truth social post.
Shortly after, he told Fox news that he would rather strike a deal with Iran, while reiterating that the next series of bombings was going to be "bigger" and "harder".
Crude oil prices, which had jumped post Trump's declaration, slipped again with Brent Crude trading 1% lower at $92.2 per barrel and West Texas Intermediate down 0.7% to $89.2 per barrel.
On the currencies front, Dollar Spot Index rose 0.1%, euro was little changed at $1.1533, British pound fell 0.1% to $1.3354, and Japanese yen was little changed at 160.53 per dollar.
Bitcoin, the largest traded cryptocurrency, rose 1.5% to $62,698.55.
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