U.S. stock indices closed higher on April 13 local time, with the Nasdaq up 1.23% and the Dow Jones up 0.63%. The S&P 500 rose 1.02% to 6,886.24 points, recovering all its losses for the year and reaching a new high since the war broke out in late February.
Most major technology stocks advanced, with the index tracking the seven largest U.S. tech giants rising 0.87%. Individually, Microsoft gained over 3% after Goldman Sachs analyst Gabriela Borges maintained a bullish stance, issuing a "Buy" rating and stating that AI spending represents a long-term competitive advantage. Google rose more than 1%, Tesla gained nearly 1%, while Apple was the sole decliner, down 0.49%.
Chip stocks mostly rose, with the Philadelphia Semiconductor Index climbing 1.68% to a new all-time high. ARM increased over 5%, Intel gained more than 4%, while Microchip Technology, Qualcomm, and Broadcom each rose over 2%. The memory sector performed notably well, with standout stock SanDisk Corp. surging 11.83% to another record high. Year-to-date, SanDisk's stock has accumulated gains of nearly 260%, with an increase of over 2,600% in the past year. Reports indicate SanDisk has been included in the Nasdaq 100 Index, and the company is scheduled to announce its third fiscal quarter results on April 30.
Oracle's stock price jumped nearly 13%, helping software stocks, which had previously been heavily sold off due to AI-related concerns, recoup some of their annual losses. Adobe rose approximately 6%, and Salesforce increased 5%. Cybersecurity stocks also moved higher, with CrowdStrike, Tenable, and SentinelOne each gaining over 6%.
Most U.S.-listed Chinese stocks advanced, with the Nasdaq Golden Dragon China Index up 0.72%. Among popular names, Kingsoft Cloud surged over 6%, Pony.ai rose more than 5%, BYD increased over 4%, Baidu Group gained more than 3%, and Bilibilly advanced nearly 3%. On the downside, Li Auto fell over 2%, and Vipshop declined more than 1%.
In commodities, international precious metal prices generally closed lower overnight. In early trading on April 14, gold and silver moved higher; as of 6:50 Beijing time, spot gold was up 0.22% at $4,753.22 per ounce, and spot silver rose 0.13%.
International oil prices experienced a sharp sell-off late in the previous session. New York crude futures fell below $100 per barrel, paring an intraday gain of nearly 10% to close up just 1.49%. Both it and Brent crude futures retreated to around $98 per barrel. In early trading on April 14, New York crude was down, falling 1.24% to $97.85 per barrel at the time of reporting.
Cryptocurrencies collectively rose. At the time of writing, Bitcoin was up 4.77% intraday, breaking above $74,000; Ethereum gained over 6%, and SOL increased over 4%. Over the past 24 hours, more than 160,000 traders globally were liquidated, with total liquidations amounting to $454 million.
According to reports, the U.S. and Iran remain in contact after the previous round of talks ended without result. The U.S. government is internally discussing details for a potential second face-to-face meeting with Iranian representatives. Informed sources suggested that, depending on progress in communications over the coming days, the U.S. and Iran might also extend a two-week ceasefire period to allow more time for negotiations. Other reports cited a social media post from a journalist indicating the next round of "direct negotiations" between the U.S. and Iran could take place on the 16th in Islamabad.
Separately, it was reported that the Iranian side contacted the U.S. expressing a "desire to reach an agreement," but stated that any deal allowing Iran to possess nuclear weapons would not be accepted.
Regarding market focus on the potential "U.S. military blockade of the Strait of Hormuz," reports stated that as of the 13th, U.S. forces had begun intercepting vessels entering and exiting the Strait of Hormuz. The U.S. Central Command clarified that vessels transiting the strait to and from non-Iranian ports would not be interfered with.
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