US stocks rise and recover some of their losses from a rare losing week
[June 30, 2026] By
STAN CHOE
NEW YORK (AP) — U.S. stocks rose Monday and recovered some of their
losses from a rare losing week.
The S&P 500 climbed 1.2% and broke a five-day losing streak. It was
coming off just its second losing week in the last 13. The Dow Jones
Industrial Average added 306 points, or 0.6%, and the Nasdaq composite
rallied 2.1%.
Several stocks boosted by the artificial-intelligence boom rose after
Samsung Electronics and SK Hynix said they will invest roughly $518
billion in a new chipmaking hub in South Korea, as its president hopes
to capitalize on surging AI demand.
Applied Materials, whose equipment helps make semiconductors, rallied
10.8% to vault its gain for the year so far above 170%.
AI stocks have been on a roller-coaster ride recently after soaring to
tremendous heights. They’re under pressure because of worries that their
profits can’t possibly keep pace with the huge gains for their stock
prices. And the moves have an outsized effect on investors because AI
stocks have become some of Wall Street’s largest and most influential,
giving them more weight on indexes than others.
Nvidia was one of the strongest forces lifting the S&P 500, for example,
after its stock rose 1.3%. That’s because it’s Wall Street’s biggest
stock with a total value of more than $4.7 trillion.
SpaceX, which owns the xAI business along with rockets, has already
become worth more than $2 trillion after its stock's ballyhooed debut on
the Nasdaq earlier this month, with sharp rises and falls along the way.
It’s become big enough that Nasdaq said Elon Musk’s company will join
the Nasdaq 100 index before trading begins on July 7, which will force
funds tracking the index to buy the stock.
SpaceX climbed 7.2%.
Outside of AI, Comcast rose 4.5% after saying it will split off its
NBCUniversal media business and Sky from its broadband and wireless
business. Its stock came into the day with a loss of 17.3% for the year
so far.
That helped offset a 5.2% drop for Verizon Communications, which said
it’s paying $625 million as part of a deal to combine its international
wireline connectivity and managed network services business with some of
London-based BT Group’s subsidiaries in a joint venture.
All told, the S&P 500 rose 86.41 points to 7,440.43. The Dow Jones
Industrial Average added 306.63 to 52,182.74, and the Nasdaq composite
rallied 522.53 to 25,820.14.
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Specialist Philip Finale works on the floor of the New York Stock
Exchange, Friday, June 26, 2026. (AP Photo/Richard Drew)
 The gains for the stock market came
even though oil prices rose. The price for a barrel of Brent crude,
the international standard, climbed 1.8% to $73.91, pulling back
above where it was before the war with Iran began. Benchmark U.S.
crude for August delivery rose 2.2% to settle at $70.75 per barrel.
Following attacks across the Persian Gulf over the weekend, the
United States and Iran on Monday separately announced they will send
delegations to Qatar this week, though Tehran insisted it has not
agreed to meet with the United States “at any level.”
The hope is that an end to the war with Iran will give oil tankers
full access again to the Strait of Hormuz, allowing them to exit the
Persian Gulf and deliver crude to customers worldwide. That would
help lower the price of oil, whose jumps because of the war have
sent a punishing wave of inflation around the world.
If oil prices do recede and stay low enough, it could keep enough
pressure off inflation to allow the Federal Reserve and other
central banks to keep interest rates steady or even cut them instead
of hiking them.
Higher interest rates can keep a lid on inflation, but they also
slow the economy and hurt prices for all kinds of investments. High
yields worldwide have been rattling investors after oil prices burst
above $100 per barrel because of the war.
The yield on the 10-year Treasury edged down to 4.37% from 4.38%
late Friday and from 4.56% early this month.
In stock markets abroad, indexes dipped modestly in Europe following
mixed performances in Asia.
Stocks jumped 1.6% in Hong Kong and 1.2% in Shanghai for two of the
world’s biggest gains, while South Korea’s Kospi slipped 0.2%.
___
AP Business Writers Chan Ho-him and Matt Ott contributed to this
report.
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