The three major U.S. stock indices closed the session with gains.

While the Dow Jones Industrial Average showed a slight upward trend, the Nasdaq Composite rose by more than 1%, and the S&P 500 reclaimed the 7,500 level for the first time in two days.

By sector, technology stocks, consumer discretionary, and materials sectors, bolstered by the semiconductor rally, each climbed more than 1%, driving the overall market gains.

Despite heightened military tensions in the Middle East following additional airstrikes between the U.S. and Iran, the New York stock market maintained its upward momentum, focusing on the strength of AI semiconductor stocks.

Even with the neutralization of the temporary ceasefire, the market interpreted the situation as a limited conflict, while robust employment data supported investor sentiment.

Initial jobless claims for last week were recorded at 215,000, coming in below market expectations.

On the other hand, existing home sales for last month fell by 2.4% compared to the previous month, showing some contraction due to the impact of high interest rates.

With the offering price for SK Hynix's U.S. ADR set at $149 per share ahead of its listing, the market received a boost from demand exceeding the offering size by more than seven times, along with forecasts that the HBM supply shortage will persist until 2027.

Consequently, Micron, which announced large-scale investment plans in the U.S., surged more than 4%, and SanDisk rose by over 7%, leading to a broad rally in semiconductor stocks and a 3.06% gain for the Philadelphia Semiconductor Index.

The New York stock market reacted more sensitively to expectations for improved earnings and the solid state of the semiconductor industry than to geopolitical risks from the Middle East today. The market is now turning its attention to the second-quarter corporate earnings season, which begins in earnest next week.