financetom
Market
financetom
/
Market
/
US STOCKS-S&P 500, Nasdaq rise as tech, chipmakers rebound
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US STOCKS-S&P 500, Nasdaq rise as tech, chipmakers rebound
Jun 8, 2026 2:22 PM

(Adds market details after close of trading)

* Tech shares lead gains following Friday's selloff

* Apple ( AAPL ) rolls out new AI-powered Siri

* Iran and Israel halt attacks

* Indexes: Dow down 0.2%; S&P 500 up 0.3%; Nasdaq up 0.9%

By Caroline Valetkevitch and Sruthi Shankar

June 8 (Reuters) - U.S. stocks ended mostly higher on

Monday, led by gains in the Nasdaq and chipmakers as investors

sought bargains after Friday's sharp selloff.

Investors were also relieved after Iran and Israel said they had

halted attacks on each other. The halt followed an appeal from

U.S. President Donald Trump that they immediately "stop

shooting." The attacks over 24 hours were the most direct

confrontation between Iran and Israel since an April ceasefire

in the war.

The Dow ended lower and stocks overall closed off the day's

highs. Apple ( AAPL ) shares eased late and finished 1.9% lower

even as the company unveiled a series of AI upgrades to Siri.

S&P 500 technology led sector advancers, rising 1.5%,

and the Philadelphia SE Semiconductor Index jumped 5.6%,

rebounding from Friday's losses that wiped out $1 trillion in

market value for U.S.-listed chipmakers.

Also, Intel ( INTC ) shares gained 11.2% after news website the

Information reported that Alphabet's Google had placed

an order to manufacture more than 3 million tensor processing

units in 2028.

"Today looks like a day where investors are doing a little

bit of bargain hunting off the big tech selloff," said Rick

Meckler, partner at Cherry Lane Investments, a family investment

office in New Vernon, New Jersey. "What normally happens after

that is you get analysts coming in and reiterating buys."

He added: "This market has been priced for quite a while for

perfection, and these are certainly imperfect times. In that

environment, you are going to see some back-and-forth, and some

fear of prices having gone too far."

Stocks sold off on Friday after hitting a series of record highs

recently. Underwhelming results from chipmaker Broadcom ( AVGO )

last week had raised concerns that the chip sector was growing

too fast, while much stronger than expected jobs data for May

contributed to Friday's rout, as traders priced in interest rate

increases this year. Broadcom ( AVGO ) gained 2.8%.

The Dow Jones Industrial Average fell 80.77 points,

or 0.16%, to 50,786.01, the S&P 500 gained 21.99 points,

or 0.30%, to 7,405.73 and the Nasdaq Composite gained

220.23 points, or 0.86%, to 25,929.66.

Apple ( AAPL ) announced the Siri revamp at its annual Worldwide

Developers Conference at its Cupertino, California,

headquarters.

Investors may be having a "sell-on-the-news" response, said

Bruce Zaro, managing director at Granite Wealth Management in

Plymouth, Massachusetts.

"Perception has been for quite some time that Apple ( AAPL ) had been

behind the curve as far as their AI offerings. That's why the

stock widely underperformed many of the other big techs for some

time until recently," he said.

SpaceX's initial public offering on Friday could also

prove a major test for U.S. stock markets, with investors wary

of possible overexuberance.

Other big tech advancers included Marvell Technology ( MRVL ),

which jumped 9.6% as the chipmaker was set to join the benchmark

S&P 500 before the start of trading on June 22.

Eli Lilly ( LLY ) gained 1.6% after the drugmaker's trial

results showed its next-generation obesity drug, retatrutide,

curbed sleep apnea severity in addition to boosting weight loss

and helping knee pain.

Declining issues outnumbered advancers by a 1.01-to-1 ratio

on the New York Stock Exchange. There were 129 new highs and 162

new lows on the NYSE. On the Nasdaq, 2,746 stocks rose and 2,142

fell as advancing issues outnumbered decliners by a 1.28-to-1

ratio.

The S&P 500 posted 13 new 52-week highs and 7 new lows while

the Nasdaq Composite recorded 105 new highs and 164 new lows.

Volume on U.S. exchanges was 19.50 billion shares, compared

with the roughly 20.3 billion average for the full session over

the last 20 trading days.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SNAPSHOT-India stocks, rupee, swaps, call at 3:30 p.m. IST
SNAPSHOT-India stocks, rupee, swaps, call at 3:30 p.m. IST
Mar 22, 2024
MUMBAI, March 22 (Reuters) - STOCKS: The benchmark BSE Sensex rose 190.75 points, or 0.26%, to 72,831.94, while the broader NSE index gained 66.1 points, or 0.30%, to 22,078.05, as IT sector bellwether Accenture's revenue warning offset optimism around U.S. Federal Reserve rate cuts. RUPEE: The Indian rupee weakened 0.33% versus the U.S. dollar, and quoted at 83.43 per dollar,...
Futures tick up after Wall Street hits record highs
Futures tick up after Wall Street hits record highs
Mar 22, 2024
(Reuters) - U.S. stock index futures inched higher on Friday, setting Wall Street on course for strong weekly gains as investors cheered the Federal Reserve sticking to its rate-easing stance and awaited commentary from Chair Powell later in the day. All three main U.S. indexes hit fresh record closing highs in the previous session as chip stocks rallied after Micron...
US STOCKS-Futures edge higher after Wall Street scales record peak
US STOCKS-Futures edge higher after Wall Street scales record peak
Mar 22, 2024
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) * Tesla slips on report co trims car production in China * FedEx ( FDX ) jumps on Q3 profit beat * Nike ( NKE ) falls after revenue forecast disappoints * Futures up: Dow 0.10%, S&P 0.11%, Nasdaq 0.07%...
US STOCKS-Futures tick up after Wall Street hits record highs
US STOCKS-Futures tick up after Wall Street hits record highs
Mar 22, 2024
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) * Futures up: Dow 0.04%, S&P 0.11%, Nasdaq 0.18% March 22 (Reuters) - U.S. stock index futures inched higher on Friday, setting Wall Street on course for strong weekly gains as investors cheered the Federal Reserve sticking to its rate-easing...
Copyright 2023-2026 - www.financetom.com All Rights Reserved