Wall Street: US indices rise despite AI doubts - oil price climbs to over $110
Doubts about the financing of the AI boom spared tech stocks on Tuesday. At the same time, the rise in oil prices fuels interest rate concerns. Investors are waiting for the financial statements of major US technology companies.
US stock market indexes have turned positive, with the Dow Jones rising 1.3% to 52,634 points, the S&P 500 up 0.7% to 7,740 points, and the Nasdaq increasing 0.5% to 26,565 points. Despite this, concerns over the tech sector's development persist, with analysts like Andreas Lipkow of CMC Markets citing worries about the high valuations and financing of the AI boom.
In Asia, semiconductor and data center companies faced selling pressure, with Elice's shares plummeting 32% after its stock market debut in Seoul. Investors are awaiting results from major AI investors like Meta to gauge the future of massive investments in the sector. The credit risk of Softbank Group has also surged to its highest level in nearly four years.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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