US sharemarkets finished higher on Thursday as a rebound in semiconductor stocks and lower oil prices outweighed concerns over renewed hostilities between the US and Iran. The Nasdaq Composite led the gains, rising 1.30% to 26,206.89. The S&P 500 added 0.81% to 7,543.64, while the Dow Jones Industrial Average gained 139.02 points, or 0.27%, to 52,487.41.
Semiconductor stocks rebounded after recent weakness, with the VanEck Semiconductor ETF rising 2.5%. Micron Technology climbed 4.5%, while Sandisk jumped 7.6%, helping lift the broader technology sector.
Markets also found support from stronger performances across Europe and parts of Asia. The pan-European Stoxx 600 rose 0.8%, Japan’s Nikkei gained 1.4%, and China’s CSI 300 advanced 2.5%.
Oil prices retreated after President Donald Trump said Iran had contacted the US to pursue negotiations, while reports indicated mediators from Qatar and Pakistan were working to restart talks.
Brent crude fell 2.6% to US$76.02 a barrel after surging earlier in the week following renewed attacks near the Strait of Hormuz. Despite the pullback, investors remain alert to geopolitical developments after US forces launched another round of strikes against Iran.
Meanwhile, US initial jobless claims fell by 2,000 to 215,000, slightly below market expectations, suggesting the labour market remains resilient.
Australian Market Outlook
Australian shares are expected to open little changed after Wall Street recovered on the back of renewed strength in semiconductor stocks. S&P/ASX 200 futures were up 3 points to 8,741.
Lower oil prices helped ease inflation concerns, while optimism around artificial intelligence continued to support technology shares. Gold rebounded and Bitcoin rose 2.2%, while Brent crude retreated after its recent surge.
With no major domestic economic data scheduled, investors are likely to remain focused on developments in the Middle East and the outlook for global interest rates.
