[New York Stock Market] Broad Rebound Led by Big Tech... SOXL Surges 5.3%
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- 2026-09-12 05:24:27
- Updated
- 2026-09-12 05:24:27
The New York stock market successfully rebounded on June 11 (local time).
The rebound came as oil prices fell. International oil prices dropped more than 2% after reports that Iran and Gulf countries would meet in Oman on June 14 to discuss issues surrounding the Strait of Hormuz.
Big tech led the gains that day.
Meanwhile, the Direxion Daily Semiconductor Bull 3X Shares (SOXL), a leveraged semiconductor exchange-traded fund (ETF) favored by Korean retail investors investing in U.S. stocks, surged 5.3%.
Broad Rebound... Weekly Decline
The three major indexes all rose. Buying was not deterred even by forecasts that the probability of the Federal Reserve (Fed) raising its benchmark interest rate by 0.25 percentage points on June 16 was approaching 90%.
The Dow Jones Industrial Average closed at 52,573.29, up 509.19 points, or 0.98%, from the previous session. The S&P 500 rose 65.28 points, or 0.86%, to 7,656.98, while the Nasdaq gained 251.31 points, or 0.96%, to finish at 26,333.04.
However, all three indexes fell on a weekly basis.
The Dow posted the largest decline, falling 1.6%, while the S&P 500 and Nasdaq dropped 0.8% and 0.7%, respectively.
Meanwhile, the “Wall Street fear gauge,” the Chicago Board Options Exchange (Cboe) Volatility Index (VIX), plunged 1.96 points, or 10.99%, to 15.88.
SOXL Surges 5.3%
Semiconductor stocks performed well even as sector leaders NVIDIA and Micron weakened and flash-memory maker SanDisk plunged 3.5%.
The Philadelphia Semiconductor Index (SOX) rose 209.83 points, or 1.81%, to 11,824.00.
The Direxion Daily Semiconductor Bull 3X Shares (SOXL), which invests in 30 semiconductor stocks, jumped $6.09, or 5.26%, to $121.85.
By contrast, NVIDIA fell $0.19, or 0.09%, to $218.17, while Micron dropped $2.15, or 0.22%, to $975.26. SanDisk slid $59.24, or 3.50%, to $1,633.35.
Big Tech Strengthens
Big-tech stocks generally performed well.
Alphabet rose $5.90, or 1.77%, to $338.50, while Apple gained $5.70, or 1.75%, to close at $332.27.
Tesla advanced $1.88, or 0.52%, to $365.44, and Palantir Technologies climbed $1.37, or 0.83%, to finish at $167.23.
Dell Soars 12%
PC and server maker Dell Technologies led the technology-stock rally, soaring $60.67, or 11.98%, to close at $567.29.
Buying was fueled by RBC’s initiation of coverage on Dell and its initial “Outperform (Buy)” rating.
RBC said Dell was emerging as a major beneficiary of the global information-technology (IT) spending environment, noting that companies, governments, and cloud providers were aggressively increasing investments in artificial intelligence (AI) infrastructure.
[email protected] Song Kyung-jae Reporter