Tech stocks drove U.S. market gains as traders downplayed Iran war risks

Odaily Planet Daily News U.S. stocks rose as investors set aside concerns over the latest U.S.-Iran conflict and turned to buying tech stocks. Despite escalating Middle East tensions, investors remain focused on signs that the artificial intelligence investment boom remains strong following a sharp decline in chip stocks earlier this week. Goldman Sachs Group's trading desk wrote in a report: "Our client conversations have not shown any substantial fundamental concerns about AI trading or capital expenditure prospects. Clients generally believe that the recent market correction is primarily technical in nature rather than fundamental."

BlackRock economist Helen Zhuwei echoed that sentiment, stating that while the largest tech companies are beginning to generate negative free cash flow and increasingly financing expansion through debt markets, investment commitments in the AI space should continue to support this investment theme for at least another two to three years. (Jinshi)