Alphabet, Meta, Amazon, Nvidia lead tech rally after Trump announces ceasefire with Iran
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President Donald Trump's Iran ceasefire announcement provided some relief to Wall Street and tech stocks shared in the rally.
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In this article STX META AMZN NVDA GOOGL Follow your favorite stocks CREATE FREE ACCOUNT Jakub Porzycki | Nurphoto | Getty Images U.S. stocks soared on Wednesday after President Donald Trump announced a two-week ceasefire with Iran , and beaten-down tech names shared in the rally. Meta , Amazon , Alphabet and Nvidia led the way among the Magnificent 7 names. Chipmakers also soared, with Taiwan Semiconductor Manufacturing Co. gaining 7% and ASML , Applied Materials and Micron popping 9%. Lam Research , Western Digital and Seagate all climbed 10%. Trump backed down from his Tuesday threat that "a whole civilization will die" shortly before his 8 p.m. ET deadline and said that the U.S. would pause fighting. He said the U.S. had received a proposal from Iran and the two sides would continue to negotiate. Despite the truce, ship traffic through the Strait of Hormuz has yet to return to pre-war levels and Saudi Arabia's east-west pipeline was hit by a drone hours after Trump's Truth Social post . Read more CNBC tech news Samsung shares rise after profit seen jumping 8-fold on AI chip boom Broadcom shares climb as chipmaker agrees Google and Anthropic deals OpenAI asks California, Delaware to probe Musk's 'anti-competitive behavior' ahead of April trial AI data center boom 'stress tests' insurers as private capital floods in watch now VIDEO 4:06 04:06 Markets will soon go back to being driven by AI investment, says Aperture’s Peter Kraus Squawk Box Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox ...
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