Loading article…
US stocks rise with the Nasdaq 100 hitting a record above 30,000, driven by chip makers and lower oil prices, while yields ease and geopolitical tensions ease.
The Nasdaq 100 pushed past the 30,000 mark, buoyed by strong performances from semiconductor firms and a pullback in oil prices that eased pressure on yields [1]. The rally came as investors balanced optimism over big‑tech earnings with a cooling of oil‑related inflation risks [3].
Key takeaways
The record‑setting move in the Nasdaq 100 was driven by a cluster of semiconductor and memory‑chip stocks. Micron Technology surged 16.2%, approaching the $900‑per‑share level after UBS analysts lifted their price target above $1,600 [1]. Other notable gainers included Monolithic Power Systems and Lam Research, which together helped push the index past the 30,000 threshold for the first time [1]. Qualcomm also rose 5.3% on news of a chip deal with ByteDance, adding further momentum to the tech‑heavy index [1].
Oil markets swung sharply on Thursday, with Brent crude briefly climbing above $109 per barrel before falling 2.3% to settle at $102.58 [3]. The price drop was linked to uncertainty over the duration of the Iran‑related closure of the Strait of Hormuz, which had previously driven oil higher [3]. As oil retreated, the 10‑year Treasury yield, which had spiked to near 4.63%, fell back to about 4.55%, easing the borrowing costs that had been weighing on growth stocks [3]. The lower yields helped lift the broader market, with the S&P 500 up 0.2% and the Dow Jones gaining 0.6% [3].
The Nasdaq 100’s new high underscores the outsized influence of technology and semiconductor firms on U.S. equity markets, especially when macro‑economic pressures such as high oil prices and rising yields subside. The retreat in oil prices not only reduced inflationary concerns but also lowered financing costs for companies building AI data centers, a sector heavily represented by the Nasdaq 100. However, volatility remains, as seen in Nvidia’s 1.8% dip despite a solid earnings beat, suggesting that profit‑taking and valuation concerns could temper the rally. Investors will likely watch upcoming earnings reports and geopolitical developments for further cues on whether the tech‑driven momentum can be sustained.
Coverage is mostly measured — 18 of 32 reports stay neutral.
Every Monday — the token unlocks, Fed dates & catalysts set to move crypto and markets this week. So you’re never blindsided.
Free · 3-min read · one-click unsubscribe
Nasdaq is conducting a quarterly index rebalance that adds several AI infrastructure companies, including CoreWeave and Nebius, to the Nasdaq 100.
Intel shares rose following reports that the company may manufacture specialized AI chips for Google and potentially enter into an agreement with Nvidia.
Tech stocks have faced pressure from rising Treasury yields and a strong U.S. jobs report, which led investors to anticipate that interest rates may remain higher for longer.
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 3, 2026 · How we report
The AI cloud trade remains a high-profile sector as companies like CoreWeave and Nebius expand to provide computing capacity for advanced model training.