The U.S. stock market rose on September 21, driven by strong performances from major tech stocks and a decline in oil prices and government bond yields. The Nasdaq composite index reached a record high for the first time in nearly four months.
On the New York Stock Exchange, the S&P 500 index closed up 114.20 points (1.49%) at 7,764.70, while the Nasdaq composite rose 599.55 points (2.26%) to finish at 27,096.00. The Dow Jones Industrial Average ended the day up 1,082.68 points (1.43%).
Stocks related to artificial intelligence (AI) led the market's gains. Intel shares surged 12%, and AMD rose nearly 10%, surpassing a market capitalization of $1 trillion. Qualcomm also saw an increase of over 9%.
A drop in oil prices contributed to the market's strength. West Texas Intermediate (WTI) crude fell more than 4.5%, while London Brent crude dropped 3.7%, settling at $100 per barrel. Despite renewed military conflicts in the Middle East over the weekend, there are expectations that diplomatic solutions between the U.S. and Iran may be explored during this week's United Nations General Assembly.
U.S. government bond yields also declined. The yield on the 10-year Treasury note fell by over 4 basis points to 4.951%, while the 30-year yield decreased by more than 4 basis points to 5.284%.
As the U.S. grapples with persistent inflation and high bond yields, the Federal Reserve raised interest rates last week for the first time in three years.
Attention is also focused on the upcoming summit between President Donald Trump and Chinese President Xi Jinping, where they are expected to discuss economic issues, including AI, tariffs, and critical minerals. Ahead of the summit, U.S. Treasury Secretary Scott V. Amundson and Chinese Vice Premier He Lifeng held a meeting.
* This article has been translated by AI.
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