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(Photo\/ Unsplash and MGN)<\/p>\n\t\t(Photo\/ Unsplash and MGN)<\/p>\n
NEW YORK (AP) \u2014 A rebound for\u00a0AI stocks<\/a>\u00a0lifted\u00a0the U.S. market<\/a>\u00a0on Monday.<\/p>\n The S&P 500 rose 0.7% and pulled back within 1% of\u00a0its all-time high<\/a>, even though the majority of stocks within the index fell. The strength for companies in the\u00a0artificial-intelligence<\/a>\u00a0technology industry sent the Nasdaq composite 1.1% higher, and the Dow Jones Industrial Average rose 155 points, or 0.3%, to a record.<\/p>\n AI stocks have\u00a0swung sharply<\/a>\u00a0in recent weeks on worries that their prices shot too high. Doubts are rising about whether all the dollars flowing into AI chips and data centers can possibly create enough gains in productivity and profits to make back all the investments.<\/p>\n Broadcom was one of the strongest forces lifting the S&P 500 and rose 3.7% after announcing long-term agreements to provide silicon products to Apple. It was coming off two straight losses of more than 2% on Wednesday and Thursday at the end of last week, before Friday\u2019s\u00a0holiday in advance of the Fourth of July<\/a>.<\/p>\n The global appetite for AI from investors will face an additional test later this week when SK Hynix, the South Korean maker of computer memory, plans to raise $28 billion by selling shares of stock that will trade in the United States on the Nasdaq. That would make it one of the biggest U.S. offerings ever, behind\u00a0SpaceX\u2019s IPO from last month<\/a>, which raised $75 billion.<\/p>\n SK Hynix\u2019s stock in Seoul has already more than tripled so far this year because of the AI boom, but its day-to-day swings have included sharp losses in recent weeks. It fell 14.6% on Thursday alone, for example.<\/p>\n SpaceX, which owns the xAI business, has seen its stock likewise swing following its ballyhooed initial public offering.<\/p>\n It erased an early gain to fall 1% in the last day of trading before it\u2019s scheduled to join the Nasdaq 100 index of the largest non-financial stocks on the Nasdaq. That\u00a0inclusion will force funds<\/a>\u00a0like the QQQ exchange-traded fund, which mimic the index, to buy SpaceX themselves.<\/p>\n Elsewhere in AI, TeraWulf climbed 4.9% after it said Anthropic agreed to a 20-year deal to use its data center in Kentucky. TeraWulf expects the deal to bring in roughly $19 billion in revenue. TeraWulf is in the midst of transitioning its business away from mining bitcoin and into high-performance computing.<\/p>\n All told, the S&P 500 rose 54.19 points to 7,537.54. The Dow Jones Industrial Average added 155.84 to 53,055.91, and the Nasdaq composite rallied 288.49 to 26,121.16.<\/p>\n In the oil market, prices drifted after\u00a0OPEC+ announced Sunday<\/a>\u00a0that seven of its members plan to expand oil production by a combined total of 188,000 barrels per day in August. It was the fifth straight month that OPEC+ members have\u00a0agreed to raise<\/a>\u00a0output, moves that tend to weigh on oil prices.<\/p>\n The price of a barrel of Brent crude, the international standard, fell 0.2% to $71.99. That\u2019s close to where it was before the United States and Israel attacked Iran in late February and sent prices spiking.<\/p>\n In the bond market, Treasury yields eased a bit. The yield on the 10-year Treasury fell to 4.47% from 4.49% late Thursday.<\/p>\n A report showed that growth last month for U.S. recreation, finance and other services businesses was roughly in line with economists\u2019 expectations. The survey by the Institute for Supply Management said that some businesses said they were seeing lower prices for gasoline and diesel, easing inflationary pressures.<\/p>\n In stock markets abroad, indexes fell modestly across much of Europe and Asia. Hong Kong\u2019s Hang Seng was an outlier and rose 1.1%.\t<\/p>\n \t\t\t\tTags: AI chip stocks<\/a>, AI investing<\/a>, AI stocks<\/a>, Anthropic<\/a>, Apple<\/a>, artificial intelligence<\/a>, Brent crude<\/a>, Broadcom<\/a>, business news<\/a>, Data Centers<\/a>, Dow Jones<\/a>, financial markets<\/a>, Inflation<\/a>, Institute for Supply Management<\/a>, market rally<\/a>, Nasdaq<\/a>, Oil Prices<\/a>, OPEC<\/a>, S&P 500<\/a>, semiconductor stocks<\/a>, SK Hynix<\/a>, SpaceX<\/a>, Stock Market<\/a>, stock market today<\/a>, Tech Stocks<\/a>, TeraWulf<\/a>, Treasury yields<\/a>, U.S. Economy<\/a>, U.S. stock market<\/a>, Wall Street<\/a>, xAI<\/a>\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"(Photo\/ Unsplash and MGN) NEW YORK (AP) \u2014 A rebound for\u00a0AI stocks\u00a0lifted\u00a0the U.S. market\u00a0on Monday. The S&P 500…\n","protected":false},"author":2,"featured_media":97213,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[5541,24,47427,12657,1986,53,319,25,50741,328,148,39,17071,5348,16177,50742,36607,588,25562,3161,3446,13757,658,591,17208,305,50424,29574,6140,13373,701,2899],"class_list":["post-97212","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ai","tag-oil-prices","tag-ai","tag-ai-chip-stocks","tag-ai-investing","tag-ai-stocks","tag-anthropic","tag-apple","tag-artificial-intelligence","tag-brent-crude","tag-broadcom","tag-business-news","tag-data-centers","tag-dow-jones","tag-financial-markets","tag-inflation","tag-institute-for-supply-management","tag-market-rally","tag-nasdaq","tag-opec","tag-sp-500","tag-semiconductor-stocks","tag-sk-hynix","tag-spacex","tag-stock-market","tag-stock-market-today","tag-tech-stocks","tag-terawulf","tag-treasury-yields","tag-u-s-economy","tag-u-s-stock-market","tag-wall-street","tag-xai"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/97212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=97212"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/97212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/97213"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=97212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=97212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=97212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}