U.S. stock indexes surged Thursday,with Nasdaq jumping 1.91%. Semiconductor shares led the charge, thanks to President Trump's announcement of an Intel-Apple partnership for U.S. chip design and manufacturing.
Philadelphia semiconductor index outperformed,climbing 6.4%. Intel hit a record high,closing up 10.6%. Dow Jones rose 0.14%,while S&P 500 gained 1.08%. Positive momentum followed easing inflation fears after U.S. and Iran inked a peace deal,extending a ceasefire since April.
Oil prices dipped to lowest levels since early March. The interim deal gave a 60-day extension for a final agreement,easing investor fears over inflation as oil prices had spiked since February conflict. But Trump warned military action could resume if Iran fails to meet commitments.
Meanwhile, consulting firm Accenture shares fell after lowering its fiscal year revenue forecast's upper end. Labor data showed a drop in weekly jobless claims, pointing to a steady job market amid low layoffs.
First ships navigated Strait of Hormuz again,resuming oil and goods transport . A major shift in region's logistics since conflict erupted…
