Chip stocks rebound drives Nasdaq higher
Concerns about an AI bubble appeared to be put behind investors as they started a new week of trading, pushing chip stocks higher and driving The composite index rose nearly 1%. Among the stocks that gained the most on Monday were Technology and other stocks saw double-digit declines last week. Meanwhile, oil prices continue to fluctuate between gains and losses. In early trading, Brent crude oil futures briefly exceeded $90 a barrel as tensions between Washington and Tehran escalated. Later, Iran stated that it was still seeking diplomatic channels and had received proposals from mediators. The market's hopes for the de-escalation of the conflict were rekindled, and oil prices subsequently gave up their gains. The second-quarter earnings season continues, with Alphabet, Wait for the company to announce its results one after another. Otherwise, this week's economic data and speeches from Federal Reserve officials have been light as policymakers enter a quiet period ahead of next Wednesday's interest rate decision.