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06.07.202620:11:35UTC+00US Stocks Rise as Chipmakers Rally

US equities advanced on Monday, led by strong gains in semiconductor stocks. The S&P 500 climbed 0.7%, the Nasdaq 100 rose 1.3%, and the Dow Jones Industrial Average finished at a record high of 53,056.

Chipmakers rallied ahead of Samsung’s upcoming sales update and SK Hynix’s ADR issuance scheduled for Friday. Broadcom gained 3.7% after extending its partnership with Apple, whose shares rose 1.3%. Nvidia added 0.4% after its assembly partner Hon Hai Precision Industry indicated that demand for AI-related products continues to strengthen. Micron advanced 0.9%, AMD jumped 6.6%, and Intel increased 1.5%.

These moves extended a volatile stretch for semiconductor shares, as investors continue to assess intensifying competition, the risk of potential overcapacity, and the profitability of large-scale AI-related capital expenditures.

On the macroeconomic front, data showed the US services sector expanded at a slightly slower pace in June. However, firms stepped up hiring as cost pressures eased. Market participants now look ahead to the release of minutes from the Federal Reserve’s latest policy meeting on Wednesday, seeking further insight into how policymakers are balancing inflation risks against developments in the labor market.

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