Stocks in the United States moved higher after weekend hostilities between the United States and Iran eased. Major technology companies rebounded sharply after the recent sell-off, while the U.S. dollar weakened.
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Technology Stocks Led Wall Street Higher
The Dow Jones index rose by 0.59% to 52,182.74 points. The broader Standard & Poor’s 500 index gained 1.18% to 7,440.43 points. The technology-heavy Nasdaq added 2.07% to 25,820.15 points.
Shares of space company SpaceX rose by 7.15% following reports that the company will be added to the Nasdaq 100 index on July 7. Alphabet, Google’s parent company, gained nearly 5% on its first day trading as part of the Dow Jones index.
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Dollar Weakens but Remains Near Its High
The U.S. dollar weakened today, though it remained close to a 13-month high. It continues to be supported by optimism about U.S. economic growth, expectations of higher interest rates and the ongoing boom in U.S. stock markets driven by artificial intelligence.
The dollar index, which measures the value of the dollar against a basket of six major global currencies, was down 0.25% at 101.10 points shortly before 22:00 CEST. The euro was up 0.4% against the dollar at 1.1425 USD at the same time. However, the dollar strengthened against the yen by 0.1% to 161.93 JPY, while the yen fell during the day to a 40-year low of 161.97 JPY against the U.S. currency.
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Source: ČTK
