Stocks rose on Thursday and oil dropped even though tensions between the U.S. and Iran remain high.
The Dow Jones Industrial Average climbed 0.27%, while the S&P 500 did so by 0.81%. The tech-heavy Nasdaq Composite overperformed, climbing 1.30% as semiconductors shares soared, led by Micron and Sandisk. The VanEck Semiconductor ETF gained 3%. Micron received a strong endorsement from investors Thursday after the memory chip giant unveiled billions of dollars in new investments designed to strengthen the domestic chip supply chain and meet surging demand fueled by artificial intelligence.
