US Stocks Rebound Sharply; Dow Hits Record Close, Nasdaq Jumps 2.07%

U.S. stocks staged a sharp intraday rebound on June 29, with the Dow Jones Industrial Average rising 306.63 points, or 0.59%, to 52,182.74 — a record closing high — while the Nasdaq gained 2.07% to 25,820.14 and the S&P 500 added 1.18% to 7,440.43, according to Jiemian News. The Philadelphia Semiconductor Index climbed 3.83% after falling more than 3% early in the session; Astera Labs surged more than 16%, KLA rose over 11%, Applied Materials gained over 10%, Lam Research added over 8%, and TSMC’s ADR rose more than 5%. Among megacaps, Tesla jumped more than 8%, Alphabet rose nearly 5%, Amazon gained over 3%, while Microsoft fell more than 1% and Apple slipped 0.72%. The Nasdaq Golden Dragon China Index rose 1.41%, with Baidu up more than 7% and XPeng up over 5%. WTI crude futures settled up 2.2% at $70.75 a barrel and Brent rose 1.61% to $73.15 after Iran said it had no plans for talks with the U.S. in coming days. Spot gold fell 0.57% to $3,992.57 an ounce and spot silver dropped 0.99% to $57.69.