All Three Major U.S. Stock Indexes Open Higher; Chip Stocks Rebound With Intel Up Nearly 10%
Claire Weston
Easing Israel-Iran tensions and a major Google order lifted US stocks on Monday, with the Philadelphia Semiconductor Index up 4.47% and Intel surging nearly 10% — but Wednesday's CPI print will decide whether the rally holds.
How much did the market gain at the open?
The S&P 500 rose 0.80% to 7,442.90; the Nasdaq Composite gained 1.11%; the Dow added 0.54%.
The Nasdaq 100 led with a 1.52% jump, driven by heavyweight tech names.
This means → capital is rotating back into risk assets after Friday's sell-off, with tech as the first stop.
Why did chip stocks rebound the hardest?
The Philadelphia Semiconductor Index surged 4.47%. Marvell rose 9.85%, Intel 9.75%, Micron 8.11%.
The catalyst: Google placed an order with Intel for more than 3 million TPUs — chips purpose-built for AI workloads.
In plain terms = Google's order proves Intel's foundry capacity has a real buyer. The market read it as a confidence signal for the entire chip supply chain.
How did Big Tech and other names perform?
Nvidia gained 1.56%, Apple 2.39%, TSMC 2.00%, Broadcom 2.75%, AMD 3.56%.
Corning jumped over 8% after Amazon signed a multi-billion-dollar fiber-optic deal with the company.
Wolfspeed rose over 9% on a partnership with GE Aerospace to accelerate high-voltage silicon carbide — a semiconductor material built for extreme heat and pressure.
Why did stocks sell off last Friday — and how far are we from the high?
Strong payroll data on Friday raised expectations that the Fed would tighten further. Tech stocks led the decline.
Even after the pullback, the S&P 500 sits roughly 2% below its all-time closing high.
This reflects a repricing of rate expectations, not a structural breakdown — the market floor was never breached.
Has geopolitical risk receded?
Israel and Iran exchanged missile strikes, briefly pushing oil prices and Treasury yields higher and stoking inflation fears.
After Trump called on both sides to "stop shooting immediately," risk appetite recovered. WTI crude slipped below $91/barrel to $90.96.
The VIX fell back below 19 on Monday after breaching 20 on Friday. This means → short-term panic is fading fast.
What is the biggest variable this week?
The US May CPI report lands on Wednesday. Bond traders are betting it may show consumer prices ticking higher.
If inflation comes in below expectations, the tech and semiconductor rally could extend. If it runs hot, rate-hike pressure will resurface.
Wall Street remains broadly bullish: Morgan Stanley holds its year-end S&P 500 target at 8,000; Citi raised its target to 8,100, citing a "significant upward revision" in earnings estimates.
If today's bounce can hold, this could be another decent buy-the-dip moment.
Jimmy Lee
CEO, The Wealth Consulting Group
(June 8, 2026, market commentary)
Content is for reference only, not financial advice.