U.S. stocks moved higher as investors reacted to signs of progress toward a potential U.S. and Iran agreement, alongside another strong session for AI related stocks.
Oil moved sharply lower as geopolitical risk premiums eased. WTI crude futures fell around 6.5% to the low US$90s per barrel, while Brent crude dropped about 7% to around US$101 per barrel.
The Dow rose about 600 points, while the S&P 500 (+1.45%) and the Nasdaq 100 (+2.01%) closed at record highs.
AMD was one of the standout movers (+18.6%). The company pointed to strong demand for data centre chips, with its data centre segment rising 57% in the first quarter to US$5.8 billion. Super Micro Computer also joined the rally, gaining 24.5% as investors focused on its AI server demand outlook.
Elsewhere, GameStop rebounded (+3.4%) from a ~10% fall on Monday even as reports that Michael Burry reportedly sold his entire stake following the company’s unsolicited bid for eBay.
Trading involves risk and may not be suitable for all investors. The information provided in this article is for educational purposes only and does not constitute financial advice. Always conduct thorough research and seek professional advice before making any investment decisions.
