U.S. stocks bounced back Monday, tech shares and chipmakers leading charge as investors hunted bargains after Friday's big selloff. Nasdaq jumped 0.9%,S&P 500 up 0.3%. But Dow Jones slipped 0.2%,not quite matching earlier highs.
Investor mood lifted after Iran and Israel agreed to pause hostilities. A call from President Trump for ceasefire played a role. It was most intense clash since April's ceasefire,with attacks over 24 hours.
Tech sector? S&P 500 technology index stood out, climbing 1.5%. Philadelphia SE Semiconductor Index surged 5.6%,recovering from drop that wiped $1 trillion off chipmakers' market value. Intel shares soared 11.2% after The Information reported Google ordered over 3 million tensor processing units for 2028 production.
Yet Apple shares slid 1.9% by day's end,even after rolling out new AI features for Siri. Rick Meckler of Cherry Lane Investments said it was a day of bargain hunting post-tech downturn. “What normally happens after that is you get analysts...” he hinted, leaving room for stock evaluation shifts…
