Finance

The Philadelphia Semiconductor Index surged over 4% to a new record, bolstered by massive gains in memory and hardware providers. Shares of Western Digital and Seagate soared 14% and 7% respectively, while Micron Technology and AMD also reached fresh historic peaks driven by the ongoing infrastructure boom for artificial intelligence.

Following its highly anticipated market debut, SpaceX shares surged an additional 20% in their second day of trading, pushing the company's valuation above the $2 trillion threshold. Analysts noted that the market's positive reception of the relatively small public float has served as an encouraging signal for high-growth tech and AI-related trades.

Crude oil prices saw a slight recovery on Tuesday after a nearly 5% drop in the previous session triggered by news of the U.S.-Iran framework. While Brent crude rose to approximately $83.42 per barrel, energy stocks remained under pressure, performing as the weakest sector on the day as traders reassessed the timeline for reopening the Strait of Hormuz.