Wall Street recovered from losses to open higher on Monday after Nvidia CEO Jensen Huang encouraged investors to see the chip rout as a 'buy-on-dips' opportunity. Meanwhile, an indicative halt in strikes between Iran and Israel also lifted sentiment.
The tech-heavy Nasdaq Composite, which had registered its sharpest fall since April 2025, opened 1.4% higher at 26,066.93. S&P 500 was up nearly 1% to 7,451.04, and Dow Jones Industrial Average rose 0.41% to 51,077.45 at open.
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Shares of Nvidia Corp. rose 1.66% to $208.35 after its chief said investors should be "excited" about the market pullback, calling it a discounted buying opportunity.
Advanced Micro Devices Inc., and Micron Technology were up over 4% and 9% to $486.20 and $942.24, respectively. At the same time intel's stock zoomed nearly 12% to $111 on reports that tech giants Google and Nvidia are considering Intel as their back up chip maker.
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Google has reportedly placed an order with Intel to manufacture more than three million Tensor Processing Units (TPUs) in 2028, according to a report by The Information citing sources familiar with the matter.
Oil prices ticked higher, with Brent Crude up 1.32% to $94.37 per barrel and West Texas Intermediate rising 0.62% to $91 per barrel.
After the markets opened, five out of the 11 sectoral indices traded in the green, while four traded in the red. Gains were led by Information Technology sector and Energy sector; whereas Communication Services sector and Utilities sector led the decline.
On the currencies front, dollar spot index fell 0.2%, euro rose 0.2% to $1.1545, British pound rose 0.1% to $1.3356, and the Japanese yen rose 0.2% to 160.01 per dollar.
Bitcoin, the largest traded cryptocurrency, rebounded and rose 2.7% to $63,537.13.
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