New York, (EFE) — Wall Street ended Monday on mixed ground, but the Nasdaq gained 0.86% as technology stocks clawed back some of their losses after last Friday’s brutal session — the sector’s worst in over a year — triggered by growing expectations that the Federal Reserve will raise interest rates. At the close of […]
New York, (EFE) — Wall Street ended Monday on mixed ground, but the Nasdaq gained 0.86% as technology stocks clawed back some of their losses after last Friday’s brutal session — the sector’s worst in over a year — triggered by growing expectations that the Federal Reserve will raise interest rates.
At the close of trading, the Dow Jones Industrial Average slipped 0.16% to 50,786 points, while the S&P 500 rose 0.30% to 7,405 and the Nasdaq climbed 0.86% to 25,929.
Tech Bounces Back After Friday’s Rout
Friday’s selloff sent the Nasdaq down nearly 4.2%, dragged lower by AI and semiconductor stocks. Monday brought partial relief, with Intel surging 11.2%, Micron up 9.9%, Applied Materials gaining 8.6%, AMD climbing 5.1%, Broadcom adding 2.8%, and Nvidia rising 1.7%.
The underlying anxiety driving Friday’s drop hasn’t disappeared: investors remain uncertain about whether the AI boom is sustainable in a high-interest-rate environment, particularly as persistent inflation and a resilient labor market keep the Fed’s tightening bias alive. Wednesday’s release of May inflation data will be the next major data point, with CME’s FedWatch tool showing markets now pricing in a rate hike in December.
Middle East Pressure Lingers
Geopolitical risk continued to weigh on sentiment. Iran announced Monday it had halted its attacks on Israel following Sunday’s escalation between the two countries, but the news offered only limited relief to markets. Texas crude oil climbed to $91.30 a barrel, tempering the indexes’ early gains. President Donald Trump is working to restrain Israeli Prime Minister Benjamin Netanyahu while keeping Iran at the negotiating table.
SpaceX IPO on the Horizon
On the corporate side, investor excitement is building ahead of SpaceX’s stock market debut this Friday on the Nasdaq — expected to be the largest IPO in history.
Market Snapshot at Close
- Gold: $4,350/oz (down)
- 10-year Treasury yield: 4.566% (up)
- Euro/USD: 1.153
- Bitcoin: $63,200 (up)
