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Wall Street gains on semiconductor optimism
U.S. stocks rose significantly at the start of today's trading, mainly supported by semiconductor company shares, amidst anticipation of earnings reports from major corporations such as Alphabet and Tesla. Tensions between the United States and Iran continue to impact oil prices. The Dow Jones Industrial Average increased by 212 points, the S&P 500 rose by 0.6%, and the Nasdaq went up by 1%. Semiconductor stocks also performed strongly, with the VanEck Semiconductor Fund gaining 4% and Micron Technology's stock rising 7%. These gains come despite escalating tensions between Washington and Tehran, which included air strikes and targeting military assets, leading to fluctuations in oil prices that exceeded $85 and $91 per barrel. The earnings season appears to reflect a robust start for the economy, with profits of 87% of companies in the S&P 500 surpassing analyst expectations.
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