Published On 10/7/2026
US, European and Japanese stocks closed higher yesterday, Thursday, supported by a recovery in technology and semiconductor stocks, at a time when investors continued to follow developments in the escalation between the United States and Iran and its effects on energy prices, inflation and the global economy.
The Dow Jones Industrial Average rose 139 points, or 0.27%, and the S&P 500 ended higher. By 0.81%, and the Nasdaq Composite Index rose by 1.30%.
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Brent crude futures fell by 2.61%, reaching $75.9 per barrel, while US West Texas Intermediate crude rose 1.96%, to $72.08 per barrel.
European high
The European STOXX 600 index rose by about 0.78% at the time of writing these lines, supported by a rise in technology and metal stocks, with a temporary decline in investor concerns about the high valuations of artificial intelligence companies.
In chip stocks, ASML stock in Amsterdam rose 4.83% to 1,602.80 euros, Celtronic stock rose 13.35%, while Switech stock rose 5.86%, indicating improved investor appetite for semiconductor companies within the sector.
Sentiment in global markets was strengthened after a report stated that China may allow local artificial intelligence companies to obtain limited quantities of NVIDIA chips, which strengthened expectations of continued demand for artificial intelligence infrastructure.
Oil prices also fell slightly during the session, as investors evaluated the political and military developments, after having recorded strong gains in the previous session due to escalating tensions.
Spanish stocks recorded the best performance among European markets, as the IBEX 35 index rose by about 1.14% at the time of writing, recovering from its lowest levels in 3 weeks, following US President Donald Trump’s decision to stop trade with it.
Nikki goes up
In Asia, the Japanese Stock Exchange index ended a series of losses that lasted 3 days, rising 1.4% to 67,743.85 points, while the broader Topix index rose 0.4%, which is also an indicator of the Japanese stock market.
Semiconductor companies led the Japanese market’s gains, as memory chip maker Kioxia rose 8.3%, Advantest rose 5.9%, and Tokyo Electron rose 5.5%.
The jump in oil prices also contributed to renewed fears of inflation, pushing 10-year Japanese government bond yields to their highest levels in three decades, while the real estate sector fell 1.3% as expectations of higher interest rates rose.
Gold rise
Gold prices rose by more than 1% during Thursday’s trading, compensating for part of the losses recorded in the previous session, after the dollar fell and oil prices fell, which eased fears of a return to inflationary pressures and eased monetary tightening bets in the United States.
The price of gold in spot transactions rose by 1.14% to $4,123.82 per ounce, while gold futures rose by the same percentage to $4,132.65 per ounce.
The recovery of the precious metal came after market fears calmed relatively following the statements of the US President, who said that Iran “strongly” wants to reach an agreement, despite the military strikes exchanged between the two sides, which pushed oil prices to decline after strong gains in the previous session.
Investors also digested the minutes of the Federal Reserve’s June meeting, which showed a division among monetary policymakers over the path of interest rates, with some members seeing the need to raise interest rates immediately, while most expected inflation to gradually decline to the target level if oil prices continued to fall and geopolitical tensions eased.
In the same context, New York Federal Reserve Bank President John Williams said that he does not expect a sustainable rise in energy prices during the rest of the year, despite the renewed military escalation, a sign that reinforced expectations that inflationary pressures may remain under control if the crisis does not expand in the Middle East.
As for other precious metals:
- Silver rose in spot transactions by 2.85% to $59.9 per ounce.
- Platinum increased 1.94% to $1,617.50
- Palladium rose 2.79% to $1,253.05
Dollar falling
In currency markets, the dollar fell slightly as inflationary fears eased following the decline in oil prices, and after the minutes of the Federal Reserve meeting reinforced investor expectations that the central bank is still divided over the need to raise interest rates further.
The dollar index, which measures the performance of the US currency against a basket of 6 major currencies, fell slightly to 100.96 points, after giving up part of the gains it achieved in previous sessions supported by the demand for safe haven assets.
