The U.S. stock market surged on September 21, driven by strong performances from major tech stocks and a decline in oil and bond yields. The Nasdaq composite index reached a record high for the first time in nearly four months.
On the New York Stock Exchange, the S&P 500 index closed up 114.20 points (1.49%) at 7,764.70, while the Nasdaq composite rose 599.55 points (2.26%) to finish at 27,096.00. The Dow Jones Industrial Average ended the day up 1,082.68 points (1.43%).
Stocks related to artificial intelligence (AI) led the market's gains. Intel shares surged by 12%, and AMD rose nearly 10%, surpassing a market capitalization of $1 trillion. Qualcomm also saw an increase of over 9%.
A drop in oil prices contributed to the market's upward momentum. West Texas Intermediate (WTI) crude fell by more than 4.5%, while London Brent crude dropped 3.7%, settling at $100 per barrel. Despite renewed military conflicts in the Middle East over the weekend, there are expectations that diplomatic solutions between the U.S. and Iran may be explored during this week's United Nations General Assembly.
U.S. Treasury yields also declined. The yield on the 10-year Treasury note fell by 4 basis points to 4.951%, while the 30-year yield decreased by over 4 basis points to 5.284%.
This decline in long-term Treasury yields occurred despite the Federal Reserve raising interest rates for the first time in three years last week. Analysts suggest that falling oil prices and easing tensions in the Middle East have alleviated some inflation concerns, contributing to the drop in long-term rates.
Attention is also growing ahead of a scheduled summit between President Donald Trump and Chinese President Xi Jinping this week. The two leaders are expected to discuss economic issues, including AI, tariffs, and critical minerals. Prior to the summit, U.S. Treasury Secretary Scott Vessen and Chinese Vice Premier He Lifeng held a meeting.
* This article has been translated by AI.
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