[New York Stock Market] Rebound on hopes for renewed U.S.–Iran talks... Intel surges 60% in nine days

[The Financial News]

The New York stock market closed higher on the 13th (local time).
Early weakness reversed into strong gains later in the session.
Investor sentiment improved after Donald Trump signaled that he would move to renegotiate with the Islamic Republic of Iran.
Meanwhile, Oracle Corporation, which announced at an event that it could significantly improve utilities’ earnings by using artificial intelligence (AI), saw its share price soar 13%.
Semiconductor stocks such as SanDisk, Micron Technology, Broadcom and Intel also extended their gains.

The three major indexes struggled in morning trading. After ceasefire talks with the Islamic Republic of Iran ended without an agreement and the United States began a blockade of the Strait of Hormuz that day, the Dow Jones Industrial Average (DJIA) and the Standard & Poor's 500 Index (S&P 500) moved lower. Only the Nasdaq Stock Market (Nasdaq) index posted a modest gain.
Conditions changed dramatically in the afternoon.
Market sentiment shifted after President Trump remarked that "the Iranian side contacted us first," suggesting that talks would resume.
In the end, the Dow Jones Industrial Average closed at 48,218.25, up 301.68 points (0.63%) from the previous session, while the S&P 500 finished at 6,886.24, jumping 69.35 points (1.02%).
The Nasdaq ended the session at 23,183.74, up 280.84 points (1.23%).
The Cboe Volatility Index (VIX), often called Wall Street’s "fear gauge," slipped 0.11 point (0.57%) to 19.12.

Big Tech stocks were generally strong.
Nvidia Corporation rose $0.68 (0.36%) to $189.31, while Microsoft Corporation jumped $13.50 (3.64%) to $384.37.
Alphabet Inc. gained $4.07 (1.28%) to close at $321.31, and Tesla, Inc. added $3.47 (0.99%) to finish at $352.42.
Palantir Technologies, which has been standing out in AI-powered defense, surged $4.31 (3.37%) to end at $132.37.
Oracle Corporation soared $17.53 (12.69%) to $155.62.

Semiconductor stocks continued their strong run.
Flash memory maker SanDisk Corporation skyrocketed $100.73 (11.83%) to $952.50. The rally was fueled after Nasdaq announced on the 10th afternoon that SanDisk would be added to the Nasdaq-100 Index. Starting on the 20th, SanDisk will join the Nasdaq-100 Index, which is composed of large technology stocks. SanDisk shares have already surged 301% so far this year and an astonishing 2,879% over the past year.
Intel Corporation also extended its gains.
Intel Corporation jumped $2.80 (4.49%) to $65.18. Since August 31, Intel’s share price has soared nearly 60% over nine trading days.
The stock has been buoyed by a series of positive developments, including Intel’s decision to join Elon Musk’s Space Exploration Technologies Corp. (SpaceX) and Tesla, Inc. in the Terafab project, as well as news on the 10th that it would partner with Google LLC.
Broadcom Inc. climbed $8.20 (2.21%) to $379.75, while Micron Technology, Inc. advanced $5.97 (1.42%) to close at $426.56.

dympna@fnnews.com Song Kyung-jae Reporter