Wall Street Rebounds as AI Chip Rally Resumes; Nasdaq 100 Jumps 1.9%
US stocks rallied on a return to AI-related names, with the Nasdaq 100 surging 1.9% and semiconductor stocks jumping 5.2%. Nvidia unveiled new chip designs, while Intel expanded workforce cuts. Apple is preparing a device leasing program. Meanwhile, rising oil prices and geopolitical tensions lifted bond yields, keeping inflation and Fed rate hike concerns in focus.
Wall Street staged a sharp rebound as the AI-driven chip rally resumed. The Nasdaq 100 surged 1.9%, and semiconductor stocks jumped 5.2% as investors rotated back into AI names.
Nvidia announced new chip designs, while Intel deepened its workforce reduction. Separately, Apple is preparing to launch "Apple Upgrade," a device leasing program that could reshape its iPhone and hardware sales model.
Rising oil prices and geopolitical tensions pushed bond yields higher, keeping inflation and Federal Reserve rate hike concerns at the forefront of market thinking.
Source: First Squawk