Intel's significant rise in stock price is attributed to President Donald Trump's announcement regarding a partnership with Apple, which is expected to enhance domestic chip production. This news not only boosted Intel but also positively affected other chipmakers like Marvell Technology, Lam Research, and Applied Materials, which saw gains of 7% and 5%, respectively.
Memory stocks also experienced upward movement, with Western Digital increasing by 5.6% and Micron Technology climbing about 4%. Conversely, Pfizer's stock fell 1% following the resignation of CFO Dave Denton, with Cecile Guegan stepping in as interim finance chief. SpaceX's shares dropped 1.2% after a previous decline, despite a substantial surge last week.
Accenture's stock plummeted 13% after announcing a $4.175 billion acquisition of multiple companies, which raised concerns among investors.
In the cruise sector, falling oil prices led to gains for Carnival, Royal Caribbean, and Norwegian Cruise Line, while airlines also benefited from higher oil prices, with major carriers like United Airlines and Delta Air Lines seeing their stocks rise about 2%.
Smith & Wesson's shares jumped 14% after reporting strong earnings and a 23% increase in handgun sales, indicating robust demand in the firearms market