New York Stock Exchange.
All three major U.S. stock indices closed higher.
The Nasdaq rose 2.26% to break its all-time high, while the S&P 500 recovered the 7,700 level.
By sector, communication services gained 3% and technology rose 2%, whereas energy weakened by 2% in the wake of falling oil prices.
Wall Street rallied across the board, driven by a surge in artificial intelligence and semiconductor stocks.
Investor sentiment quickly stabilized as international oil prices and Treasury yields, which had been weighing on the market, fell in tandem.
Today's market focus centered on the easing of risks originating from the Middle East.
U.S. President Trump hinted at the possibility of a meeting with the Iranian president during the upcoming UN General Assembly, easing geopolitical tensions. Combined with expectations for a recovery in crude oil supply, West Texas Intermediate and Brent crude prices dropped sharply.
The stabilization of oil prices immediately reduced inflationary pressures, pulling the 10-year U.S. Treasury yield below the psychological resistance level of 5% and serving as a powerful boost for growth stocks that had been hit hard by high interest rates.
Among individual stocks, AI semiconductor shares stood out. Bolstered by the expansion of next-generation AI infrastructure and surging demand for computing power, AMD surged close to 10%, crossing the 1-trillion-dollar market capitalization threshold for the first time in history.
Meta also skyrocketed more than 11% after its self-developed AI agent Muse sparked a box-office style frenzy by taking the number one spot in App Store downloads.
Whether the stock market will see further gains is expected to be determined by the outcomes of the U.S.-China summit and Middle Eastern diplomatic efforts taking place this week.
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