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Update: US Equity Indexes Jump as Semiconductors Boost Technology

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(Updates with index/price moves from the first paragraph.)

US equity indexes rose, with the S&P 500 and the Nasdaq Composite set to clock the biggest quarterly gains since Q2 of 2020 amid semiconductor-led gains in technology.

The Nasdaq Composite jumped 1.5% to 26,209.2, and the S&P 500 rose 0.8% to 7,496.1 ahead of Tuesday's close. The Dow Jones Industrial Average advanced 0.2% to 52,286.5, heading for the strongest first half in five years.

Technology was the standout gainer intraday, followed by industrials. Real estate, consumer staples, and utilities led the decliners.

Of the top 20 stocks with a market capitalization of more than $200 billion, 18 were from the tech sector, according to data compiled by Finviz. Within those tech names, the majority were either semiconductors or semiconductor equipment and materials. The top gainer was SanDisk (SNDK), trading up 11%.

Bernstein adjusted the price target for SanDisk to $3,000 from $1,700 while maintaining its outperform rating. Shares of SanDisk were the top gainers on the S&P 500 and Nasdaq.

In geopolitical news, US envoy Steve Witkoff and President Donald Trump's son-in-law Jared Kushner are in Doha for meetings with Qatari mediators, according to CNN. Technical talks are ongoing, but there are currently no high-level meetings between the US and Iran, CNN reported, citing Qatar's Foreign Ministry spokesperson.

The front-month global benchmark North Sea Brent slipped 0.3% to $72.92 per barrel, and the US West Texas Intermediate fell 1.1% to $70.01 per barrel.

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Update: Strong Gains in Communication Services, Consumer Discretionary Lift US Equity Indexes; Crude Oil Heads Higher

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Update: Communication Services, Consumer Discretionary Help Push US Equity Indexes Higher

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