24H | Chip and Crypto Stocks Rally as US Announces Ceasefire Extension With Iran

Tiger Newspress04-22 09:43

U.S. President Donald Trump said on Tuesday he would indefinitely ​extend the ceasefire with Iran, hours before it was set to expire, to allow the two countries to continue peace talks ‌to end a war that has killed thousands of people and shaken the global economy.

Chip stocks rallied in overnight trading. Direxion Daily Semiconductors Bull 3x Shares, Semtech, United Microelectronics, and Navitas Semiconductor rose 3%; Astera Labs, Super Micro Computer, Lattice Semiconductor, KLA-Tencor, Seagate Technology, Arm, AMD, and Western Digital rose 2%; Lam Research, SanDisk, Marvell Technology, and Intel rose 1%.

Crypto stocks also rose in overnight trading. IREN, Cipher Mining, Strategy, and Robinhood rose 3%; American Bitcoin, BitMine, Riot Platforms, Coinbase, Circle, Hut 8, SharpLink Gaming, and MARA Holdings rose 2%.

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Comments

  • Sticks
    04-22 11:04
    Sticks
    This has gotta be government and institutional money trying to force this higher. I don't know a single good trader buying into this stuff at these valuations into this environment.
    • Previ007
      Agree… the optimism floating around is unprecedented.
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