Wall Street indices recovered from a rocky week as tech shares gained and America and Iran agreed to pause hostilities and let traffic pass through the Strait of Hormuz.
S&p 500 opened 0.55% higher at 7,394.38, tech-heavy Nasdaq Composite jumped 0.8% to open at 25,484.94, while the Dow Jones Industrial Average opened 0.35% higher at 52,056.30.
Nasdaq jumped over 1% minutes after the opening bell to trade at 25,586.20 as big tech stocks lifted sentiment.
Nvidia shares broke their five-day long losing streak and surged over 1% to $194.78, whereas Micron Technology extended losses to slide over 4% to $1,085.65.
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All was green on the magnificent seven front as Meta Platforms Inc., Amazon.com Inc., Google-parent Alphabet and Tesla Inc. gained over 3%. Apple Inc. and Microsoft Corp also rose 0.24% and 1.44% to $284 and $378.63, respectively.
"We continue to believe strongly that the action in the tech sector will continue to be the main driver in the stock market going forward," Matt Maley at Miller Tabak told Bloomberg news.
Advanced Micro Devices declined sharply after opening in the green by over 1% to $513.81 and Sandisk Corp. slumped over 5% to $1,981.
The Dollar Spot Index was little changed, while the euro rose 0.2% to $1.1405, British pound rose 0.3% to $1.3243, and the Japanese yen fell 0.1% to 161.93 per dollar.
Oil prices edged higher with Brent crude trading 1.07% up at $72.76 per barrel and the West Texas Intermediate up 1.37% to $70.21 per barrel.
Bitcoin, the largest traded cryptocurrency, rose 0.8% to $60,025.57.
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