Wall Street climbs on signs of easing tensions in Middle East, chip stocks rally

Wall Street’s major indices advanced on June 8, 2026, as semiconductor equities surged and signs of de-escalation in the Middle East boosted investor sentiment. By 10:30 a.m. Eastern Time, the S&P 500 rose 0.8% to 7,440.57, the Dow Jones Industrial Average climbed 0.3% to 50,997.23, and the Nasdaq Composite jumped 1.3% to 26,065.07. Tech-heavy gains were led by Micron Technology (+8.3%) and Marvell Technology (+8.8%), while Broadcom and Nvidia also saw modest increases. The rally followed a weekend of heightened tensions after Israel and Iran exchanged military strikes, though crude futures stabilized after Iran signaled a temporary pause. Brent crude briefly spiked above $98 before settling at $94.25, reflecting reduced conflict fears. US President Donald Trump urged both nations to halt hostilities, though Iran warned it could escalate retaliation if provoked further. Corning shares rose 7.6% after Amazon announced a multibillion-dollar deal for optical fiber and cable production for its US data centers. Meanwhile, government bonds saw slight relief, with the 10-year Treasury yield dipping to 4.51% from 4.55% at Friday’s close. Commodities like gold stabilized as optimism for an Israel-Iran ceasefire eased earlier sell-off pressures. Spot gold held at $4,330.98 per ounce, while silver rose 0.9% to $68.44. Platinum and palladium, however, declined by 1.1% and 0.9%, respectively. Analysts noted the market had overreacted to a tech sector sell-off on Friday, with a strong US jobs report fueling fears of Federal Reserve rate hikes. Adam Sarhan of 50 Park Investments said buyers returned after tensions appeared to ease, pushing indices higher.