Wall Street Climbs Across the Board on Tech Buying

Here is the latest from Wall Street.

Major U.S. stock indices all finished higher.

The Nasdaq reclaimed the 26,000 level, while both the Dow and the S&P 500 closed slightly higher.

By sector, materials and tech stocks led the gains, each rising 1%.

U.S. stocks rose across the board as investor sentiment improved alongside a simultaneous decline in U.S. Treasury yields and international oil prices, drawing strong buying into major technology stocks ahead of their earnings releases.

Following reports that the U.S. Treasury Department could engage in buybacks of long-term government bonds, the yield on the 10-year Treasury note plummeted by more than 7 basis points, dropping to the low 4.6% range.

International oil prices also fell for the second consecutive day.

This came as concerns over crude supply disruptions eased following news that the U.S. is leaning toward economic sanctions rather than military pressure against Iran, and that Iran and Oman are discussing the opening of a temporary shipping lane in the Strait of Hormuz.

Nvidia, which had fallen for seven straight sessions, rebounded by over 2%, and major semiconductor stocks also showed strength across the board.

Tomorrow marks the scheduled release of July Personal Consumption Expenditures (PCE) price index—the Federal Reserve's preferred inflation gauge—along with Nvidia's earnings report.
※ Please note: This article was translated by AI and may contain errors.