Wall Street holds steadier as chip companies swing back upward

Key Points:

• Wall Street showed steady gains with the S&P 500 up 0.6%, the Dow Jones rising 190 points, and the Nasdaq increasing 0.8%, driven by rebounds in chip companies and AI-related stocks.
• AMC Entertainment and Domino’s Pizza saw significant stock increases after reporting better-than-expected quarterly revenue, with AMC's shares soaring nearly 15% following record sales and profits.
• Oil prices declined amid escalating U.S.-Iran tensions and ongoing attacks, with Brent crude falling to $86.46 per barrel and U.S. crude dropping to $79.91, while U.S. gas prices surpassed $4 per gallon again.
• The launch of China’s new open-source AI model, Kimi K3, intensified competition in the AI sector, impacting global markets and challenging established players like OpenAI and Anthropic.
• Asian markets were mixed, with South Korea’s Kospi plunging 4.5% due to losses in major tech stocks, while Hong Kong and Shanghai markets rose; European markets showed modest gains and losses.