US-Iran talks in New York ease tensions, oil falls, Nasdaq hits record high on AI rally
US President Donald Trump confirmed a three-hour meeting between US and Iranian officials in New York, describing it as "productive" and planning further talks. Iran set conditions for reopening the Strait of Hormuz, including lifting the maritime blockade and releasing frozen assets. Oil prices fell for a fifth consecutive day, with Brent crude dropping below $95 per barrel. Meanwhile, the Nasdaq Composite rose 0.45% to a record close of 27,244.28, driven by AI and memory chip stocks.
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US Chip Stocks Rise, Oil Falls as Iran Sets Conditions for Strait Talks
On September 22, US stock markets showed mixed results, with the Dow Jones Industrial Average falling 0.36%, the S&P 500 flat, and the Nasdaq Composite rising 0.45%. The Philadelphia Semiconductor Index surged over 2%, driven by gains in memory chip stocks: SanDisk rose over 6%, Micron Technology gained 5%, Seagate Technology added 4.85%, and Western Digital and SK Hynix each rose over 3%. Among the 'Magnificent Seven' tech stocks, Tesla gained nearly 1% and Nvidia rose 0.66%, while Amazon weakened. The Nasdaq China Golden Dragon Index traded narrowly, with NetEase, Tencent Music, and Li Auto each up over 1%, and KE Holdings down 1.21%. In diplomatic news, Iran's foreign minister met with US President Trump's special envoy Steve Witkoff during the UN General Assembly. Iran proposed strict conditions for reopening the Strait of Hormuz, including an immediate end to the maritime blockade, release of frozen Iranian assets, and cessation of all war operations on 'resistance' fronts. President Trump described the meeting as productive and said another meeting would be arranged soon. Trump also stated he had urged officials to approve a ban on diesel exports, citing price pressures from Iran and Ukraine conflicts. Treasury Secretary Scott Bessent said officials are evaluating the feasibility of a full or partial ban. International oil prices fell further, with WTI crude dropping below $90 per barrel and Brent crude at $94.71 per barrel, as market concerns over supply disruptions eased.
Read sourceUS Stocks Mixed; SpaceX Market Cap Surges $37.8 Billion, Memory Chip Stocks Rally
On Tuesday, US stock markets showed mixed results as the AI agent rally continued, with the Nasdaq closing at a record high of 27,244.28 points, up 0.45%. The Dow Jones fell 0.36% while the S&P 500 was flat. Memory chip stocks strengthened significantly, with SK Hynix up 3.45%, Micron Technology up 5%, SanDisk up 6.82%, Seagate Technology up 4.85%, and Western Digital up 3.67%. In the 'Muse concept' category, e-commerce platform Shopify rose 7.12%, accumulating nearly 15% gains over two days following its announced partnership with Meta to integrate the Muse agent. SpaceX shares gained 1.89%, bringing its market capitalization to $2.04 trillion, an increase of over $37.8 billion (approximately 253.2 billion yuan) from the previous session. In commodities, spot gold and silver edged higher, while US crude oil fell nearly 1% and Brent crude dropped nearly 1.7%, falling below $95 per barrel. On geopolitics, US President Donald Trump confirmed that US and Iranian officials held three hours of talks in New York on Tuesday and plan to meet again soon, signaling a potential easing of tensions.
Read sourceSpaceX Market Cap Surges $37.8 Billion Overnight, AI Stocks Rally, Brent Oil Drops Below $95
On Tuesday, U.S. stock markets showed mixed results, with the Nasdaq closing at a record high of 27,244.28 points, driven by a continued AI agent rally. Major tech stocks were mostly lower, while semiconductor and storage stocks gained. SpaceX's market capitalization surged by over $37.8 billion (approximately 253.2 billion yuan) to $2.04 trillion, according to 21st Century Business Herald. The report attributed the rise to SpaceXAI's Grok Bot agent, which reached 418,000 weekly active users as of September 14, up 24% from the previous week. AI server power concept stocks led gains, with Monolithic Power Systems rising 8.06%. AI high-speed interconnect chip maker Astera Labs gained 6.67%. The 'Muse concept stocks' saw Shopify rise 7.12% after announcing a partnership with Meta. In commodities, Brent crude oil fell nearly 1.7% to below $95 per barrel. U.S.-Iran tensions showed signs of easing, with President Trump confirming a three-hour meeting in New York, calling it 'very productive' and planning further talks, as reported by Xinhua.
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SpaceX Market Cap Rises $37.8B Overnight; US Chip Stocks Surge; Brent Oil Falls Below $95
On Tuesday, US stocks closed mixed with the Nasdaq hitting a record high, driven by AI and 'Muse concept' stocks. The Dow fell 0.36%, the S&P 500 was flat, and the Nasdaq rose 0.45% to 27,244.28. Major tech stocks were mostly lower, while semiconductor and storage stocks surged, with SK Hynix up 3.45%, Micron up 5%, and SanDisk up 6.82%. SpaceX's market cap rose over $37.8 billion to $2.04 trillion, attributed by Caixin to its AI agent Grok Bot reaching 418,000 weekly active users. 'Muse concept' stock Shopify rose 7.12% after announcing a partnership with Meta. Chinese ADRs mostly rose. In commodities, Brent crude fell nearly 1.7% below $95/barrel. US-Iran talks in New York were described by President Trump as 'very productive,' with plans for another meeting soon. The article includes a disclaimer that it is for reference only and not investment advice.
SpaceX market cap surges $37.8B, US chip stocks rise, oil falls below $95, Trump confirms US-Iran talks
On Tuesday, US stocks were mixed with the Nasdaq hitting a record close at 27,244.28, driven by AI and 'Muse concept' stocks. SpaceX's market cap rose by over $37.8 billion to $2.04 trillion, with its AI agent Grok Bot reaching 418,000 weekly active users. Semiconductor stocks mostly gained, with memory chip makers like SanDisk up 6.82%. Oil prices fell, with Brent crude dropping nearly 1.7% below $95 per barrel. In geopolitics, US President Donald Trump confirmed that US and Iranian officials held a three-hour meeting in New York on Tuesday, describing it as 'very productive' and indicating plans for another round of talks soon. The article also notes that Apple's stock hit an intraday record high, and Chinese ADRs mostly rose.
Read sourceAI Rally and Mideast Tensions Ease Push Nasdaq to New Record; Muse Stocks Surge
U.S. stocks closed mixed on Tuesday, with the Nasdaq Composite rising 0.45% to a new record high of 27,244.28, driven by continued enthusiasm for AI and easing Middle East tensions. The AI agent trend persisted, with storage and 'Muse concept' stocks leading gains. Oil prices fell for a fifth consecutive day after U.S.-Iran talks in New York and reports of a potential reopening of the Strait of Hormuz. The U.S. Treasury Secretary is studying a diesel export ban to address high fuel prices. Key movers included Nvidia (+0.66%), Apple (+0.23%), and SK Hynix (+3.45%). The 'Muse concept' stock Shopify surged 7.12% after announcing a partnership with Meta. Financial stocks dragged on the Dow, with the S&P 500 financial sector hitting a new low since July. The Nasdaq China Golden Dragon Index rose 0.32%. In other news, OpenAI and Anthropic launched cheaper AI models, Berkshire Hathaway increased its stake in homebuilder Lennar to over 10%, and Meta is testing a human concierge service for its AI agent, Muse.
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