Major US stock indices rose on Wednesday amid artificial intelligence enthusiasm and as oil prices fell after Iranian comments on the Middle East war.
At the opening bell, the Dow Jones Industrial Average rose 25.5 points, or 0.05%, to 50,487.16. The S&P 500 rose 6.9 points, or 0.09%, to 7,526.01, while the Nasdaq Composite rose 39.3 points, or 0.15%, to 26,695.442.
Crude oil values plummeted sharply following statements from Iran’s Revolutionary Guards indicating that a renewed conflict with the United States remained improbable.
Regardless of Tehran’s remarks, the ongoing near-closure of the strategic Strait of Hormuz remains unresolved, a crisis that has drastically inflated energy prices since the US-Israeli military campaign against Iran commenced.
Micron shares surged 5.6%, extending gains after breaching a historic $1 trillion market capitalization on Tuesday due to intense investor enthusiasm surrounding its artificial intelligence capabilities.
