The stock market rallied on Thursday, July 9, as semiconductor stocks surged and led broad gains across major indexes, helping equities recover from earlier geopolitical tensions.
The Nasdaq Composite gained 1.30% to close at 26,206.89, while the S&P 500 surged 0.81% to 7,543.64 and the Dow Jones Industrial Average added 139 points, or 0.27%, to 52,487.41, according to Benzinga. Semiconductor stocks powered the advance, with the VanEck Semiconductor ETF (SMH) climbing 2.5% during the session.
Chip stocks benefited from optimism surrounding SK Hynix’s upcoming U.S. stock offering, which was reportedly more than seven times oversubscribed, according to Reuters. The strong demand for the memory chip maker’s shares reflected investor appetite for semiconductor exposure amid ongoing artificial intelligence infrastructure demand.
The broader market sentiment improved as well. The CNN Money Fear and Greed Index moved to the “Neutral” zone at 47.3, up from a prior reading of 44.1, signaling a shift from earlier anxiety. Most sectors on the S&P 500 closed on a positive note, with information technology, consumer discretionary, and financial stocks recording the biggest gains, per Benzinga.
Oil prices fell during the session after U.S. President Donald Trump said Iran had called to reach an agreement, easing some of the geopolitical pressure that had weighed on markets earlier in the week. Lower crude prices typically benefit equities by reducing inflation concerns and supporting consumer spending.
Economic data also supported the rally. U.S. initial jobless claims declined by 2,000 to 215,000 in the week ending July 4, coming in below market estimates of 218,000. The labor market strength suggested the broader economy remained stable despite recent volatility tied to Middle East tensions.
The semiconductor sector’s leadership reflected a broader recovery in technology stocks after earlier weakness. The PHLX Semiconductor Index, or SOX, had nearly doubled in the first half of 2026 before flinching in early July, but Thursday’s gains showed renewed buying interest in the space.
Sources
- Benzinga — Nasdaq, S&P 500, and Dow Jones closing prices and gains; semiconductor stock performance; Fear & Greed Index reading; sector performance; oil price reaction to Trump statement
- Reuters — SK Hynix U.S. stock offering details and investor demand; semiconductor sector leadership
- Yahoo Finance/Motley Fool — Semiconductor stock names and AI hardware gains; market stabilization details
