U.S. Stock Market Rises Amid Middle East Tensions and Central Bank Meetings

The U.S. stock market experienced gains for the second consecutive day as investors focused on developments in the Middle East and anticipated meetings from several central banks this week. According to RTHK, the Dow Jones Industrial Average struggled to maintain its position above 47,000 points, initially rising over 480 points to reach 47,428 points, but later narrowing its gains to close at 46,993 points, up 46 points or 0.1%. The S&P 500 Index closed at 6,716 points, increasing by 16 points or approximately 0.3%. Meanwhile, the Nasdaq Composite Index ended at 22,479 points, up 105 points or about 0.5%. Memory chip stocks performed well, with Micron Technology rising 4.5% ahead of its earnings report, while Seagate Technology and Western Digital saw increases of around 6% and nearly 10%, respectively. Major tech stocks showed mixed results; Nvidia fell nearly 1%, Intel dropped close to 4%, while Amazon and Alphabet rose nearly 2%. Concerns over private credit quality eased, benefiting financial stocks. Asset management firms Blackstone Group and BlackRock saw gains of nearly 5% and 3%, respectively. Airline stocks also moved upward, with Delta Air Lines rising 6.5%, and United Airlines and American Airlines increasing by over 3%.