{"id":4660,"date":"2026-07-10T00:45:13","date_gmt":"2026-07-10T00:45:13","guid":{"rendered":"https:\/\/horizonindexadvisors.com\/index.php\/2026\/07\/10\/dow-rises-139-points-as-chip-stocks-rally-despite-renewed-us-iran-strikes\/"},"modified":"2026-07-10T00:45:13","modified_gmt":"2026-07-10T00:45:13","slug":"dow-rises-139-points-as-chip-stocks-rally-despite-renewed-us-iran-strikes","status":"publish","type":"post","link":"https:\/\/horizonindexadvisors.com\/index.php\/2026\/07\/10\/dow-rises-139-points-as-chip-stocks-rally-despite-renewed-us-iran-strikes\/","title":{"rendered":"Dow rises 139 points as chip stocks rally despite renewed US-Iran strikes"},"content":{"rendered":"
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US stocks closed higher on Thursday as a rally in semiconductor shares offset concerns over renewed military exchanges between the United States and Iran, while easing oil prices helped support broader market sentiment.<\/p>\n

The Dow Jones Industrial Average added 139.02 points, or 0.27%, to finish at 52,487.41. The Nasdaq Composite gained 1.30% to close at 26,206.89, while the S&P 500 rose 0.81% to 7,543.65. <\/p>\n

Chip stocks lead market higher<\/h2>\n

Semiconductor shares powered the market higher, with the VanEck Semiconductor ETF climbing 2.5%.<\/p>\n

Micron Technology gained 4.5% after outlining plans to invest more than $250 billion<\/a> in the United States through 2035 to expand memory chip production and support growing demand driven by artificial intelligence.<\/p>\n

Applied Materials<\/a> and SanDisk<\/a> also posted strong gains, with SanDisk rising 7.6%.<\/p>\n

Meta Platforms added to the positive sentiment<\/a> after Reuters reported that the company plans to begin manufacturing its in-house AI chip in September.<\/p>\n

The Philadelphia Semiconductor Index extended its recent advance as investors continued to back AI-related companies despite recent volatility across the sector.<\/p>\n

With the second-quarter earnings season set to begin, analysts expect S&P 500 companies to report average year-over-year earnings growth of 24%, according to LSEG I\/B\/E\/S. <\/p>\n

Technology companies are projected to account for a significant share of that increase. Meanwhile, the S&P 500 is trading at about 20 times forward earnings, down from roughly 21 times a month ago.<\/p>\n

Markets weigh geopolitical tensions and oil prices<\/h2>\n

Investor sentiment remained cautious after the US launched another round of strikes on Iran for the second consecutive day, according to US Central Command.<\/p>\n

The latest attacks followed Tehran’s strikes on commercial shipping around the Strait of Hormuz, slowing traffic through one of the world’s most important energy shipping routes.<\/p>\n

Despite the renewed conflict, crude oil prices declined after President Donald Trump said Iran had called to make a deal. <\/p>\n

Reports also indicated that Qatar and Pakistan were attempting to facilitate renewed negotiations between the two sides.<\/p>\n

The latest comments contrasted with Trump’s remarks a day earlier, when he said the ceasefire with Iran was “over” and suggested he was no longer interested in pursuing negotiations.<\/p>\n

European markets also recovered, with the pan-European Stoxx 600 index rising 0.8%.<\/p>\n

In Asia, Japan’s Nikkei 225 gained 1.4%, South Korea’s Kospi added 0.62%, Hong Kong’s Hang Seng fell 0.5%, and China’s CSI 300 climbed 2.5%.<\/p>\n

Fed outlook remains in focus<\/h2>\n

Investors also assessed the outlook for inflation and US monetary policy.<\/p>\n

Fresh economic data showed weekly US jobless claims declined<\/a>, suggesting the labour market remains stable despite slower job growth in June.<\/p>\n

Minutes from the Federal Reserve’s June meeting showed that while policymakers kept interest rates unchanged, some officials saw a case for raising borrowing costs before agreeing to hold rates steady. <\/p>\n

Traders are currently pricing in a likely 25-basis-point rate hike by the Fed’s December meeting.<\/p>\n

\n

The post Dow rises 139 points as chip stocks rally despite renewed US-Iran strikes<\/a> appeared first on Invezz<\/a><\/p>\n

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