Global Stock Markets Rebound as Tech and Oil Stabilize Amid US-Iran Tensions

Most major stock markets recovered losses on Thursday, led by a surge in semiconductor stocks and a pullback in oil prices, even as the US-Iran conflict continued. The pan-European Euro Stoxx 50 gained 1.28%, while Spain's Ibex rose 1.14% after sharp declines the prior day Source: hoydo. Wall Street also rebounded: the Nasdaq climbed 1.3%, and the S&P 500 rose 0.81%, driven by a 4.5% jump in Micron Technology after it announced plans to invest over $250 billion in US chip plants Source: larepublicaco.

Semiconductor Strength and Rotation

The Philadelphia SE Semiconductor index had its second consecutive positive session, with Micron and Sandisk leading gains. This comes as investors rotate out of Nvidia—down 16% from its May peak—into memory chip makers like Micron, which have surged 229% year-to-date Source: larepublicaco. Asian markets reflected the trend: Tokyo's Nikkei rose 2.2% on tech gains, though Toyota fell 2.25% Source: infobae.

Oil and Geopolitical Risks

Oil prices eased, with Brent crude falling 1.45% to below $77 per barrel, as diplomatic hopes tempered supply fears Source: hoydo. However, the US conducted a second day of airstrikes against Iran, and Iran retaliated against US allies, keeping markets on edge Source: larepublicaco. A potential de-escalation in Doha had earlier sparked a $750 billion surge in US market value Source: mileniomx.

Fed and Employment

Minutes from the Fed's June meeting revealed some members favored a rate hike, but weaker-than-expected June employment data (57,000 jobs added) reduced the likelihood of aggressive tightening Source: elconfidencial. The yield on the 10-year Treasury rose to 4.485%.