U.S. equities edged higher on Thursday after two days of losses, powered by a 3% jump in the Philadelphia Semiconductor Index. The index, home to Nvidia and AMD, rebounded from a 3.6% dip, as chip demand steadied amid Middle East tensions. Investors welcomed the rebound, noting that supply chain constraints eased and semiconductor sales forecast improved.

The S&P 500 climbed 0.3% to 4,355 points, while the Nasdaq 100 surged 0.8% to 13,210. A 6.5% rise in the year‑over‑year Producer Price Index—the highest since November 2022—stoked fears that inflation will stay sticky, prompting traders to trim risk. Market watchers worry that a Fed rate hike could stall growth and push equities lower.

Intel shares leapt 7.6% after BofA upgraded the stock to buy, citing stronger CPU sales. Oracle fell 13% as capital‑expenditure numbers topped estimates. Meanwhile, SpaceX’s anticipated IPO drew attention, lifting satellite‑linked names like Redwire and Firefly Aerospace by 3.9% and 6.2% respectively. Investors see the move as a chance to diversify beyond traditional tech exposure.

Oil stocks rose close to 1% amid fears that the Iran–U.S. flare could widen supply cuts, pushing Brent to $87 a barrel. DXC Technology gained 2.1% after announcing a multi‑year partnership with Anthropic to embed Claude AI into enterprise systems, signaling a shift toward generative‑AI integration across industries. The partnership could unlock revenue for services.