Chip Stocks Leading the Gains, S&P 500 and Dow Jones Closing in on All-Time Highs

Investors are betting on a reopening agreement near HORMUZ, and the S&P 500 index increased by 0.6%, the Nasdaq 100 index increased by 1.2%, and the Dow increased by 0.3%, with the U.S. oil prices dropping.

Space stocks opened higher, Momentus jumped over 75%, Redwire rose over 11%, and MDA Space rose over 7%.

Semiconductor stocks generally rose, the Philadelphia Semiconductor Index surged over 3% in the initial trading; Micron Technology increased by more than 11%, UBS had previously significantly raised the target price to $1625; Marvell Technology rose over 9%, AMD rose over 4%, ARM rose over 3%, all registering historical highs.

Chinese concept stocks strengthened at the opening, the Livermore Chinese Concept Stock Leading Index rose by 2.13%; Futu Holdings increased by 14%, Tiger Brokers increased over 9%; Pony.ai once rose 17% at the beginning, the largest intraday increase since September last year, following the company's announcement of a 145% year-on-year growth in Q1 revenue.