New York, June 11, 2026, 16:10 (EDT)
- The S&P 500 closed at 7,394.30, gaining 1.75%. The Dow Jones Industrial Average finished 1.86% higher at 50,848.38.
- Nasdaq Composite jumped 2.54% to 25,809.66 with buyers coming back to chip and AI stocks.
- Oil prices dropped after President Donald Trump said he canceled planned strikes on Iran, taking pressure off inflation worries.
Stocks in the U.S. surged late Thursday, with major indexes clawing back ground lost in Wednesday’s selloff. Investors bought technology shares, while falling oil prices eased worries about Middle East tensions. The S&P 500 jumped 1.75% to finish at 7,394.30. The Dow Jones Industrial Average gained 1.86% to close at 50,848.38. Nasdaq Composite led, climbing 2.54% to 25,809.66.
Stocks picked up speed after Reuters said Trump called off planned strikes on Iran and that talks with Iran and other Middle East states had progressed. Oil pulled back on the news, with U.S. crude down 3% to $87.33 a barrel. Brent lost 3.19% to $90.13. That cut into one of Wall Street’s major inflation worries for the week.
This follows Tuesday’s sharp selloff as investors worried over Iran and tech names lost ground again. The S&P 500 was down 1.6% to 7,266.99, with the Dow off 953.33 points at 49,918.78 and the Nasdaq falling 2% to 25,169.50, per the Associated Press.
Tech names led Thursday’s bounce. Reuters said the S&P 500 tech index had dropped 11% from its June 2 closing high and hit correction territory before buyers stepped in. “Our technical indicators are looking relatively oversold here,” Robert Phipps of Per Stirling Capital Management in Austin told Reuters. “Just as we had gone up too far, too fast, we came down too far, too fast.” Reuters
Chip stocks were solid today. MarketScreener had Sandisk up 14.35%, KLA added 13.20%, Lam Research climbed 12.73%, Micron Technology moved up 11.29%, and Applied Materials rose 10.86%. These semiconductor names landed among the S&P 500’s leaders.
Oracle lagged even as tech stocks rallied. Reuters reported Oracle shares fell after the firm put out fiscal 2027 capital spending plans that beat analyst forecasts, while MarketScreener showed Oracle among the S&P 500’s biggest movers down, off 8.47%. Adobe, Autodesk and PTC were also among the laggards in the S&P 500 during the session.
Stocks rallied, but inflation stayed in focus. The Labor Department reported the Producer Price Index for final demand rose 1.1% in May and was up 6.5% over the past 12 months, the biggest yearly jump since November 2022. According to the BLS, almost 80% of the month’s rise traced to a 2.8% gain in final-demand goods, mostly from higher gasoline prices, which surged 23.4%.
The wholesale inflation release came after CPI numbers out Wednesday. Consumer prices climbed 0.5% for May and were up 4.2% year over year. Core CPI, which strips out food and energy, increased 2.9% in the past 12 months. Investors remain alert to the Federal Reserve’s next move.
Treasury yields slipped after some of the geopolitical pressure faded. The 10-year U.S. Treasury yield dropped 6.3 basis points to 4.477%, Reuters said. The two-year yield, which usually reacts more to Fed-rate talk, was down at 4.077%. Lower yields gave a lift to growth stocks, which tend to track rate outlooks more closely.
Market breadth held up too. Reuters said advancers led decliners by 2.62-to-1 on the NYSE and 2.48-to-1 on the Nasdaq. That suggests the rally went beyond just big tech stocks.
