Tech Rally Lifts Stocks as Iran Diplomacy Hopes Sink Oil — US Market Wrap
A rally in technology giants sent stocks to their best day since early August, while hopes for diplomatic efforts to end the Iran war pushed oil prices sharply lower and provided further support to markets. The S&P 500 climbed 1.5%. Chipmakers surged as early signs of success for Meta Platforms’ AI agent fueled enthusiasm across the industry, with Meta jumping 11%. Advanced Micro Devices topped $1 trillion in value, while the Nasdaq 100 gained 2.8%. Brent crude settled around $100. The 10-year Treasury yield fell below 5%, while Bitcoin climbed above $86,000. President Donald Trump told Fox News he would “probably” be open to meeting Iranian President Masoud Pezeshkian on the sidelines of the UN General Assembly in New York. Meanwhile, Saudi Arabia’s observed oil loadings from inside the Persian Gulf jumped over the weekend. Wall Street is also preparing for this week’s summit between Trump and Chinese President Xi Jinping, with officials from both countries giving upbeat assessments of their discussions on AI, trade and investment.
A rally in technology giants sent stocks to their best day since early August, while hopes for diplomatic efforts to end the Iran war pushed oil prices sharply lower and provided further support to markets. 5%. Chipmakers surged as early signs of success for Meta Platforms’ AI agent fueled enthusiasm across the industry, with Meta jumping 11%. 8%.
Brent crude settled around $100. The 10-year Treasury yield fell below 5%, while Bitcoin climbed above $86,000. President Donald Trump told Fox News he would “probably” be open to meeting Iranian President Masoud Pezeshkian on the sidelines of the UN General Assembly in New York. Meanwhile, Saudi Arabia’s observed oil loadings from inside the Persian Gulf jumped over the weekend.
Wall Street is also preparing for this week’s summit between Trump and Chinese President Xi Jinping, with officials from both countries giving upbeat assessments of their discussions on AI, trade and investment.