U.S. stocks rose sharply before pulling back! Chip stocks rebounded, with Intel up over 11% and Micron Technology up over 9%.
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Glonghui June 9|U.S. stocks surged and then retreated on Monday, with the three major indices ending mixed at the close: the Dow Jones fell 0.16%, the Nasdaq rose 0.86%, and the S&P 500 increased 0.30%. Chip stocks rebounded, with the Philadelphia Semiconductor Index up 5.6%. Intel rose more than 11%, Micron Technology climbed more than 9%, Applied Materials rose more than 8%, ASML increased more than 6%, SanDisk and AMD both rose over 5%. Optical communication concept stocks strengthened, with Marvell Technology climbing over 9%, AAOI up over 11%, and Astera Labs gaining over 9%. Apple closed down 1.9%, as investors reacted lukewarmly to Apple’s next-generation AI platform and upgraded Siri. The Nasdaq Golden Dragon China Index closed down 0.62%. Among popular Chinese concept stocks, Daqo New Energy closed down 4.6%, Meituan ADR fell 3.02%, Pinduoduo dropped 2.88%, Boss Zhipin and Kingsoft Cloud both fell at least 2.74%, Jinko Solar and Baidu each dropped at least 2.1%. KE Holdings rose 0.5%, MINISO increased 1.16%, Vipshop climbed 1.26%, NIO gained 1.68%, Li Auto increased 2.32%, Bilibili rose 2.86%, Pony.ai climbed 3.94%, and Tiger Brokers gained 4.24%.
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