[New York Stock Market] Bonds Take a Breather and Rebound After Four Days; NVIDIA Surges 3.2%

[Financial News]  

The New York stock market successfully rebounded on the 2nd (local time) after four days.
The decline in government bond yields helped trigger the market’s rebound. The yield on the 10-year U.S. Treasury, which had surged to its highest level in about three years during the session, turned lower.
Semiconductor stocks led the rebound, with NVIDIA surging more than 3%.

The three major New York stock indexes ended a four-session losing streak that began on the 28th of last month.
The Dow Jones Industrial Average (DJIA) closed at 53,061.95, up 295.07 points, or 0.56%, from the previous session.
The Standard & Poor’s 500 Index (S&P 500) rose 35.13 points, or 0.46%, to 7,666.60, while the Nasdaq gained 118.05 points, or 0.45%, to finish at 26,217.83.
The Chicago Board Options Exchange (Cboe) volatility index (VIX), known as Wall Street’s fear gauge, plunged 1.05 points, or 6.43%, to 15.29.

The government bond market found some stability for the time being.
The benchmark 10-year U.S. Treasury yield climbed as high as 4.818% during the session, reaching its highest level since November 2023, before turning lower. It fell 0.016 percentage points from the previous day to 4.78%.
The 30-year yield, a benchmark for long-term interest rates, fell 0.01 percentage points to 5.275%, while the two-year yield dropped 0.025 percentage points to 4.369%.
The 10-year German government bond (Bund) yield fell 0.004 percentage points to 3.373%, while the 10-year Japanese government bond yield slipped 0.005 percentage points to 3.011%.
The 10-year UK government bond (gilt) yield also fell 0.011 percentage points to 5.226%.

Semiconductor stocks generally performed well.
NVIDIA led the advance, surging $6.97, or 3.21%, to $224.41.
Micron Technology rose $22.64, or 2.43%, to $956.08, while Intel gained $1.08, or 1.21%, to close at $90.05.
SK hynix’s American depositary receipts (ADRs) jumped $4.20, or 2.61%, to finish at $164.98.
The Philadelphia Semiconductor Index (SOX) rose 50.64 points, or 0.45%, to 11,339.25.
U.S. Secretary of Commerce Howard Lutnick announced that tariffs would be applied at different rates depending on whether semiconductors are produced in the United States. Companies that build production facilities in the United States would receive tariff exemptions or pay lower rates, while those relying on overseas production would face higher tariffs. In other words, companies seeking access to the U.S. market would have to pay an admission fee.

Apple, which had surged 2.5% the previous day as a so-called “safe-haven” asset, closed at $324.96, down $0.17, or 0.05%.
Microsoft fell $4.20, or 0.84%, to $496.82, while Palantir Technologies plunged $10.46, or 5.81%, to $169.46.
Tesla, meanwhile, rose $0.92, or 0.26%, to $357.01, and Alphabet gained $2.10, or 0.63%, to close at $337.12.

[email protected] Song Kyung-jae Reporter