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Broadcom AI Chip Earnings Drive Wall Street Rebound Past Iran Fears

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U.S. stock index futures rose on Wednesday evening, extending gains after strong economic data helped Wall Street rebound from Iran conflict fears. Broadcom Inc was a standout performer in aftermarket trade, jumping over 5% after beating earnings expectations and forecasting $22 billion in second-quarter revenue, driven by advanced AI chip sales. Markets gained confidence from stabilizing oil prices and bargain buying following earlier losses tied to heightened Middle East tensions. The chipmaker's outlook signaled continued AI demand, lifting rivals like NVIDIA and software firm CrowdStrike, which also rose over 4% on strong earnings. Wall Street's gains were further fueled by robust February jobs data and a surge in the ISM services index, though geopolitical risks and inflation remain key concerns ahead of upcoming Fed policy signals.