03:54 PM EDT, 07/21/2026 (MT Newswires) -- (Updates with index/price moves and company/geopolitical news from the first paragraph.)

US equity indexes rose as surging chipmakers boosted technology, helping offset a move higher in crude oil amid threats of worsening hostilities in the Middle East.

The Nasdaq Composite jumped 1.3% to 25,835.8, with the S&P 500 up 0.9% to 7,508.5 and the Dow Jones Industrial Average higher by 0.7% to 52,212.8 ahead of Tuesday's close.

Technology was the standout gainer, up 2.3%, followed by energy. Consumer staples and communication services led the decliners.

Out of the top ten companies with a market capitalization of more than $200 billion, all but one were from the technology sector, according to data compiled by Finviz. Within that tech dominance, six were from semiconductors and semiconductor equipment and materials industries, including Intel ( INTC ) .

Intel ( INTC ) is planning to lay off workers within its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note that Intel ( INTC ) is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel's ( INTC ) shares surged 8.82%, one of the top gainers on the S&P 500 and the Nasdaq.

In geopolitical news, President Donald Trump delivered a dim view of possible talks with Iran to end the war, telling reporters Tuesday that the US has "no interest in meeting" until Iran is ready to convene "in a meaningful way," the Associated Press reported.

A desalination facility and power plants caught fire and suffered serious damage in Kuwait after new Iranian strikes targeted the crucial facilities, along with areas of Bahrain and Jordan, following the 10th consecutive night of US bombing, Al Jazeera, a Middle Eastern broadcaster, reported Tuesday.

Meanwhile, the Houthi-run SABA news agency said six ships attempting to pass through the Bab el-Mandeb Strait in the southern Red Sea were forced to reroute on Tuesday after being warned by the rebels, a day after they announced a maritime embargo against Saudi Arabia, according to the Associated Press.

The front-month US West Texas Intermediate rose 2% to $84.91 a barrel, and global benchmark North Sea Brent climbed 2.3% to $91.28 a barrel.