U.S. stock indices showed mixed performances. The Dow Jones increased by 35.16 points, while the Nasdaq fell by 0.51%, and the S&P 500 declined by 0.22%. The Philadelphia Semiconductor Index dropped 0.75%, driven by pressures on chip stocks due to potential changes in U.S. export policies toward China, causing NVIDIA (NVDA) to drop 1.12% and TSMC's ADR to fall by 1.87%.
In the tech sector, Meta (META) dropped 1.93%, Apple (AAPL, Financial) surged 2.25%, Alphabet (GOOGL) plummeted 3.85%, Microsoft (MSFT) fell 0.59%, and Amazon (AMZN) declined 1.33%. Meanwhile, Circle (CRCL) saw a remarkable 20.39% increase following a significant legislative approval for stablecoins.
Global tensions, particularly between Israel and Iran, add to market uncertainties. Analysts suggest that geopolitical risks might present buying opportunities despite rising oil prices. The Fed is expected to consider rate cuts, potentially as early as July, according to Governor Christopher Waller.
As the market anticipates resolution in geopolitical tensions, investor sentiment remains cautious with the S&P 500 still 3% below its 52-week high.
