loading
loading
Listen to this article in summarized format Warnings from executives at leading AI companies had triggered a selloff a week earlier. However, sentiment improved as investors focused on signs that spending on the technology continued to expand. Intel shares jumped 9%. Advanced Micro Devices surged 8.5% to become the latest chipmaker to reach $1 trillion in market valuation, while Micron gained 3%. Meta soared 6.2% to a more than seven-month high after Wells Fargo raised its price target on the stock. Accenture added 3.5% after partnering with Anthropic to invest $2 billion in AI evaluation. "The excitement in the build-out and adoption of AI has really driven a lot of the growth in corporate profits and a lot of the gains in the stock market over the past few years," Chris Zaccarelli, chief investment officer for Northlight Asset Management, told Reuters. Washington and Tehran continued to exchange fresh threats over the weekend. However, US President Donald Trump said he was open to meeting Iranian President Masoud Pezeshkian, who is expected to attend the UN General Assembly in New York this week. Falling crude prices eased pressure on equities, while the benchmark 10-year US Treasury yield slipped below the critical 5% level. Investors nevertheless remained cautious about the interest-rate outlook after a recent pickup in inflation prompted the US Federal Reserve to raise rates for the first time in three years. Markets were pricing in a 50% chance of another hike next month, according to CME's FedWatch. Commentary from at least 10 central bank policymakers is scheduled this week. Chicago Fed President Austan Goolsbee said there was "no ambiguity" about the need for higher interest rates, as inflation pressures had spread beyond tariffs and energy prices to strong demand. Meanwhile, the Dow Jones Industrial Average rose 241.25 points, or 0.47%, to 51,923.89. The S&P 500 gained 70.38 points, or 0.92%, to 7,720.88, while the Nasdaq Composite added 393.21 points, or 1.48%, to 26,915.76. Seven of the 11 S&P 500 sectors traded higher. Communication services led gains with a 2.3% rise, while energy was the biggest laggard. Sentiment also improved after a diplomatic breakthrough between the United States and Denmark over Greenland’s status, potentially easing trade tensions and lifting US-listed companies exposed to the region. Critical Metals soared 35%, while Greenland Mines and Greenland Energy each more than doubled in value. The China-US summit on Thursday could cover a possible extension of the trade truce, the Iran war and regulations governing AI development, following talks concluded on Sunday by Scott Bessent and Chinese Vice Premier He Lifeng, during which the US Treasury secretary proposed a new mechanism for AI safety notifications. Bitcoin, a key indicator of risk appetite, climbed 5.3% to a more than seven-month high, lifting Coinbase and Strategy 5% and 8%, respectively. Paramount Skydance gained 6.5% after a report said the company settled with California and other states seeking to block its $110 billion merger with Warner Bros Discovery. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.78-to-1 ratio on the Nasdaq. The S&P 500 posted 4 new 52-week highs and 22 new lows, while the Nasdaq Composite recorded 30 new highs and 66 new lows. (Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-09-22 02:54