US Stocks Open Higher; Intel Jumps 11.5%
Summary
- US stocks opened higher, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all advancing.
- AI chip-related stocks including Intel and Marvell Technology surged, leading a rebound in technology shares.
- Expectations for AI infrastructure investment, along with this week's US inflation data and Middle East tensions, remain key variables for risk-asset flows.
Forecast Trend Report by Period
US stocks opened higher, with gains in artificial intelligence chip shares leading a rebound in technology names.
BlockBeats reported on June 8 that shortly after the opening bell, the Dow Jones Industrial Average was up 0.26%, while the S&P 500 rose 0.79% and the Nasdaq Composite advanced 1.39%.
Intel Corp. (INTC) jumped 11.5% in early trading. BlockBeats attributed the move to a report that Google had ordered more than 3 million tensor processing units, or TPUs, from Intel.
Marvell Technology Inc. (MRVL) also climbed 9.6%. In premarket trading, AI-related stocks including Marvell, Micron Technology Inc. (MU), Broadcom Inc. (AVGO) and Advanced Micro Devices Inc. (AMD) had already moved higher.
American Battery Technology Co. (ABAT) surged 25.5% after the company won an appeal, leading the US Department of Energy to resume grant funding for a related project.
Markets are seeing bargain hunting after last week's sharp technology selloff, while expectations for AI infrastructure investment are reviving sentiment toward semiconductor stocks. Still, US inflation data due this week and tensions in the Middle East remain key variables for risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
