| The Nasdaq surged 281.56 points (1.4%) to 19,912.53, the Dow jumped 507.24 points (1.2%) to 43,089.02 and the S&P 500 shot up 67.01 points (1.1%) to 6,092.18.
Wall Street extended its gains following President Trump's announcement of a ceasefire between Israel and Iran, easing investor concerns over geopolitical tensions. Despite accusations of violations from both sides, market sentiment remained optimistic. Traders also brushed off Fed Chair Jerome Powell’s remarks about holding interest rates steady, despite pressure from Trump.
The Conference Board released a report showing an unexpected deterioration by consumer confidence in the month of June. Its consumer confidence index fell to 93.0 in June from a revised 98.4 in May.
Semiconductor stocks turned in some of the market's best performances, , with the Philadelphia Semiconductor Index soaring by 3.8%. Airline stocks are substantially strong, as reflected by the 3.6% surge by the NYSE Arca Airline Index. Computer hardware, networking and biotechnology stocks too were strong while gold and oil producer stocks bucked the uptrend.
Asia-Pacific stocks moved sharply higher. Japan's Nikkei 225 Index shot up by 1.1%, while Hong Kong's Hang Seng Index surged by 2.1%. Most European stocks moved upwards. Germany's DAX Index jumped by 1.6% and France's CAC 40 Index advanced by 1.0%, although the U.K.'s FTSE 100 Index closed only slightly above the unchanged line.
In the bond market, treasuries moved higher over the course of the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.7 bps at 4.29%.
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