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US semiconductor stocks rally, ARM up over 5%; Microsoft rises over 3% on new Copilot release
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On the evening of September 25, Beijing time, US stock indices opened slightly higher, with the Dow Jones up 0.43%, the S&P 500 up 0.31%, and the Nasdaq up 0.39% as of 10 p.m. ET. The 'Magnificent Seven' tech stocks showed mixed performance: Microsoft surged over 3% after releasing a new Copilot with Home, Code, and Autopilot AI features, while Google, Nvidia, and Apple edged higher, and Meta fell 2.7%. The semiconductor sector rose, with the Philadelphia Semiconductor Index gaining over 1%, ARM jumping over 5%, ON Semiconductor up over 4%, SK Hynix up over 3%, and SanDisk and ASML up over 1%, while Intel bucked the trend with a 1.8% decline. International oil prices fell, with WTI and Brent crude narrowing losses to under 1.5%, at $93.23 and $98.95 per barrel respectively. Gold and silver gains nearly erased, with spot gold at $4,276.8 per ounce and spot silver at $63.86 per ounce. According to Xinhua, Iranian Foreign Minister Abbas Araghchi said on September 24 at the UN General Assembly that Iran has submitted a new draft proposal to the US to 'reopen' the Strait of Hormuz and restart negotiations. A source told Reuters that US and Iranian negotiators are discussing a phased agreement in New York, including Iran reopening the Strait of Hormuz in exchange for the US lifting its economic blockade.
Source report
On the evening of September 25 (Beijing time), the three major U.S. stock indexes opened slightly higher. As of 10:00 p.m., the Dow Jones Industrial Average rose 0.43%, the S&P 500 gained 0.31%, and the Nasdaq Composite Index increased 0.39%.
Tech Giants Show Mixed Performance
The "Magnificent Seven" tech stocks displayed divergent trends. Microsoft surged over 3%, following the release of a new version of Copilot that introduces three major AI features: Home, Code, and Autopilot, as reported by Cailianshe. Google, Nvidia, and Apple posted modest gains, while Meta fell 2.7%.
Semiconductor Sector Rises
The semiconductor sector moved higher, with the Philadelphia Semiconductor Index climbing over 1%. ARM jumped more than 5%, ON Semiconductor rose over 4%, SK Hynix gained more than 3%, and SanDisk and ASML both increased over 1%. Intel bucked the trend, falling 1.8%.
Oil Prices Decline; Gold and Silver Gains Nearly Erased
International oil prices fell, with both WTI and Brent crude narrowing their declines to within 1.5%, trading at $93.23 per barrel and $98.95 per barrel, respectively. Gains in gold and silver were nearly wiped out, with spot gold last trading at $4,276.8 per ounce and spot silver at $63.86 per ounce.
Iran-U.S. Negotiations: New Draft Proposal Submitted
According to Xinhua News Agency, Iranian Foreign Minister Abbas Araghchi told media on September 24 during the United Nations General Assembly general debate that Iran has submitted a new draft proposal to the United States, which includes "reopening" the Strait of Hormuz and resuming negotiations. Separately, sources familiar with the matter told Reuters that U.S. and Iranian negotiators are discussing a phased agreement in New York, under which Iran would "reopen" the Strait of Hormuz in exchange for the U.S. lifting its economic blockade on Iran.
(Source: 21st Century Business Herald)
Source
21世纪经济报道Eastern
Part of this Story
Iran Proposes Seven-Day Plan to Reopen Strait of Hormuz, Oil Prices Drop