US Stocks Close: Three Major Indices Rise Across the Board, Philadelphia Semiconductor Index Gains Over 8%, Trump Says He Will Sign Iran Deal This Weekend

TradingKey - On June 11, Trump announced the cancellation of tonight's strikes against Iran. The easing of geopolitical tensions significantly boosted investor sentiment, causing the three major U.S. stock indices to rally across the board, with tech stocks leading the gains.

At the close, the Dow Jones Industrial Average rose 1.86% to 50,848.75 points; the S&P 500 Index gained 1.75% to 7,394.30 points; and the Nasdaq Composite Index climbed 2.54% to 25,809.66 points.

Tech stock performance

Micron Technology (MU) rose 11.66% to $995.87.

As Nvidia's next-generation AI accelerator, Vera Rubin, enters its volume production phase, the global memory market is facing a deepening supply crisis. Supply chain sources reveal that major cloud service providers have locked in all long-term agreement capacity for 2027 and are already securing 2028 supplies, with memory shortage pressures expected to intensify starting in the second half of 2026. Nvidia CEO Jensen Huang recently confirmed that SK Hynix, Samsung Electronics, and Micron Technology have all completed HBM4 certification, initiated production, and are fully supporting the Vera Rubin platform.

Oracle (ORCL) fell 8.58% to $184.

Oracle delivered fourth-quarter results that beat expectations. Revenue rose 21% year-over-year to $19.18 billion, exceeding the $19.1 billion market estimate, while adjusted earnings per share reached $2.03, topping the $1.96 forecast. Despite the strong performance, investors are increasingly focused on Oracle's growing capital needs. The company stated it plans to raise $40 billion through future debt and equity financing. In the recently concluded fiscal year 2026, Oracle had already raised $43 billion through debt and completed a $5 billion equity offering.

Other tech giants mostly rose, with Tesla (TSLA) gaining 4.60%, Broadcom (AVGO) up 3.62%, TSMC (TSM) up 3.26%, Nvidia (NVDA) up 2.22%, Amazon (AMZN) up 1.47%, Apple (AAPL) up 1.39%, and Google (GOOGL) up 0.39%; Microsoft (MSFT) fell 1.77%, and Meta Platforms (META) dropped 0.45%.

The Philadelphia Semiconductor Index surged 7.91% to 13,171.44, with all 30 constituent stocks ending higher. KLA Corporation (KLAC) rose 12.92%, Lam Research (LRCX) gained 12.65%, Micron Technology (MU) added 11.66%, Arm Holdings (ARM) climbed 11.32%, Applied Materials (AMAT) advanced 11.19%, and Marvell Technology (MRVL) increased 11.13%.

Memory-related stocks were among the top gainers, with SanDisk (SNDK) up 14.50%, Micron Technology (MU) up 11.66%, Western Digital (WDC) up 8.00%, and Seagate Technology (STX) up 6.38%.

Space-related stocks rose ahead of SpaceX's public listing tomorrow. Rocket Lab (RKLB) gained 9.26%, Howmet Aerospace (HWM) rose 6.06%, Boeing (BA) climbed 6.04%, General Dynamics (GD) advanced 5.22%, Lockheed Martin (LMT) added 4.51%, and GE Aerospace (GE) increased 4.41%.

China concept stocks were mostly higher, with Legend Biotech (LEGN) gaining 4.07%, KANZHUN (BZ) rising 3.70%, Hesai (HSAI) adding 3.02%, and Futu Holdings (FUTU) up 2.80%.

Corporate News

Novo Nordisk's Oral Wegovy Receives Market Approval in the UK

The UK's Medicines and Healthcare products Regulatory Agency (MHRA) announced Thursday that the oral version of Wegovy has been approved for adults with a body mass index (BMI) of 30 or higher, or for those with a BMI between 27 and 30 who have at least one weight-related complication. The approval allows the drug to be sold to private patients and provided through telehealth providers. Novo Nordisk stated that the medication will be available within weeks.

Google Reportedly in Talks with Samsung to Co-Develop Next-Generation Chips

According to a report from The Information, chip companies are seeking suppliers beyond TSMC amid current manufacturing capacity shortages. Google (GOOGL) is reportedly considering giving Samsung Electronics a key role in producing its most advanced future AI chips. The report states that Google is in talks with Samsung to utilize Samsung's 2nm process for manufacturing components of its next-generation TPU (codenamed "Icefish"). A partnership with Google could bolster Samsung's standing in the advanced chip manufacturing sector.

Retail Subscription Orders for SpaceX IPO Exceed $100 Billion

According to people familiar with the matter, the largest IPO in SpaceX history has entered its final stages, with total retail investor subscription orders surpassing $100 billion, a sharp increase from the $70 billion reported earlier Thursday, covering demand from individual investors worldwide.

BlackRock Plans $5 Billion Subscription in SpaceX IPO

According to sources familiar with the matter, BlackRock, the world's largest asset manager, plans to invest approximately $5 billion to subscribe to shares in the SpaceX IPO, joining the ranks of billion-dollar investors alongside Middle Eastern sovereign wealth funds from Saudi Arabia and Kuwait.

Coinbase Launches AI Agent Trading Tool

Coinbase officially launched "Coinbase for Agents" on Thursday, an AI agent trading tool that allows major AI models like ChatGPT and Claude to execute cryptocurrency trades on behalf of users via natural language instructions. Core functions include portfolio rebalancing, strategy execution, and long-term position management, with plans for future expansion into stock trading and prediction markets.

Retail Allocation for SpaceX IPO Revised Down to 20%

According to people familiar with the matter, the retail allocation for the largest IPO in SpaceX history has been finalized in the low 20% range, significantly lower than the previous market expectation of 30%. This allocation will cover global individual investors, online brokerages, and private banking clients. The final allocation plan is nearly finalized, though minor adjustments remain possible.

Industry & Macro News

Trump says he canceled a new round of strikes on Iran

U.S. President Donald Trump posted on social media: "Given that discussions with the Islamic Republic of Iran have been submitted to the Iranian supreme leadership and approved, I, as President of the United States of America, have canceled tonight's planned strikes and bombings against Iran."

U.S. May PPI inflation surges, continuing to pressure businesses and the economy

Data released by the U.S. Bureau of Labor Statistics on Thursday showed that the U.S. PPI rose 6.5% year-on-year in May, marking the largest increase since November 2022, and rose 1.1% month-on-month. Core PPI, which excludes food and energy, rose 4.9% year-on-year.

The report highlights the mounting toll on the U.S. economy from the energy price shock triggered by the closure of the Strait of Hormuz. With the conflict unlikely to be resolved in the short term, companies are passing on higher energy and transportation costs, and other goods and services are also starting to become more expensive.

BofA expects CPU market size to grow fivefold by 2030

Bank of America's latest report significantly raised its server CPU market forecast, suggesting that driven by global AI data center construction and the explosion of Agentic AI, the total addressable market (TAM) for server CPUs will reach $170 billion by 2030, a fivefold increase from $35 billion in 2025 and well above the previous forecast of $125 billion.

The report noted that while GPUs remain the core of AI computing power, the status of CPUs in the AI ecosystem is rising rapidly. AI agents rely heavily on CPUs to complete specific tasks such as instruction execution and system interaction, and the rapid adoption of agent technology will become the strongest driver of CPU demand.

BNP Paribas says AI cooling demand will continue to surge

BNP Paribas stated that the race to build artificial intelligence infrastructure is creating a powerful new growth engine for companies that can solve one of the industry's biggest challenges: preventing increasingly power-hungry AI servers from overheating.