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What is the story about?
US stocks opened higher on Thursday, June 11, after the United States completed a fresh round of strikes on Iran, intensifying the conflict but also prompting investors to position for a rebound from recent losses.
The S&P 500 rose 0.4% shortly after the opening bell, while the Nasdaq Composite climbed 0.5%. The Dow Jones Industrial Average advanced 248 points, or 0.5%, as all three major indices started the session in positive territory.
West Texas Intermediate crude futures edged higher to around $89 a barrel after President Donald Trump said in a post on Truth Social that the US will be attacking Iran “VERY HARD TONIGHT.” He also said, “At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets.”
This follows additional “self-defense strikes” carried out by US Central Command forces against Iran late Wednesday, according to a post on social media platform X, which said the operations were directed by Trump.
In equities, Micron Technology, Advanced Micro Devices, and Intel led a rebound in chipmakers, with the iShares Semiconductor ETF gaining 3%. The sector had come under pressure earlier in the week after a sharp sell-off, raising concerns that the recent rally in semiconductor stocks may have been overstretched. Intel also gained after Bank of America upgraded the stock from underperform to buy, lifting shares about 5%.
Sentiment was further buoyed by anticipation around SpaceX’s upcoming debut on Friday, seen as a potential catalyst for broader AI-related investments. Some traders, however, suggested recent volatility in chip stocks may reflect portfolio rotation ahead of the high-profile listing, expected to be the largest IPO on record at an estimated $1.8 trillion valuation.
The S&P 500 rose 0.4% shortly after the opening bell, while the Nasdaq Composite climbed 0.5%. The Dow Jones Industrial Average advanced 248 points, or 0.5%, as all three major indices started the session in positive territory.
West Texas Intermediate crude futures edged higher to around $89 a barrel after President Donald Trump said in a post on Truth Social that the US will be attacking Iran “VERY HARD TONIGHT.” He also said, “At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets.”
This follows additional “self-defense strikes” carried out by US Central Command forces against Iran late Wednesday, according to a post on social media platform X, which said the operations were directed by Trump.
In equities, Micron Technology, Advanced Micro Devices, and Intel led a rebound in chipmakers, with the iShares Semiconductor ETF gaining 3%. The sector had come under pressure earlier in the week after a sharp sell-off, raising concerns that the recent rally in semiconductor stocks may have been overstretched. Intel also gained after Bank of America upgraded the stock from underperform to buy, lifting shares about 5%.
Sentiment was further buoyed by anticipation around SpaceX’s upcoming debut on Friday, seen as a potential catalyst for broader AI-related investments. Some traders, however, suggested recent volatility in chip stocks may reflect portfolio rotation ahead of the high-profile listing, expected to be the largest IPO on record at an estimated $1.8 trillion valuation.
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