Volatile Chip Stocks Extended 2-Day Rally, Crude Oil Hovered Below $90

Barry Adams
09 Jun, 2026
New York City

Wall Street indexes extended the previous session's gains in Tuesday's trading, and crude oil prices traded volatile with a downward bias. 

The S&P 500 index increased 0.4%, and the tech-heavy Nasdaq Composite advanced 0.6% amid a global recovery in chip stocks. 

Nvidia, Marvell Technology, Intel, AMD, Broadcom, SanDisk, Micron Technology, and Taiwan Semiconductor jumped between 4% and 10% in Monday's trading, as investors overlooked rising bond yields. 

The Nasdaq Composite plunged 4%, and semiconductor stocks plunged as much as 12% in Friday's trading after the U.S. economy added more-than-expected net new jobs in May. 

The jobs report stoked fears that the Federal Reserve policy may be forced to keep interest rates higher for longer, slowing economic growth and increasing the cost of building artificial intelligence infrastructure.

Benchmark indexes in Japan, Hong Kong, and South Korea rebounded as much as 2% from the sharp selloff on Monday as investors adjusted to higher bond yields in the U.S. and Japan. 

West Texas crude oil prices decreased 2% to $89.41 a barrel amid reports that Israel and Iran have suspended their latest round of missile strikes, easing concerns that the ongoing conflict could prolong the reopening of the Strait of Hormuz. 

 

U.S. Movers 

Vail Resorts decreased 3.4% to $131.99 after the luxury ski resort operator lowered its annual adjusted operating earnings outlook. 

Vail Resorts lowered its annual estimate to between $739 million and $761 million compared to the previous estimate between $745 million and $775 million.

The company blamed challenging weather conditions for the reduced demand at its resorts in the western U.S. that persisted in the third quarter.

Revenue in the fiscal third quarter ending in April decreased to $1.20 billion from $1.3 billion, net income dropped to $340 million from $411.3 million, and diluted earnings per share fell to $8.81 from $10.46 a year ago. 

Designer Brands decreased 1.1% to $8.81 after the shoe retailer reported its financial results for the fiscal first quarter ending on May 2. 

Consolidated net sales increased 1.4% to $696.4 million from $686.9 million, net income attributable to shareholders swung to a profit of $1.2 million from a loss of $17.8 million, and diluted earnings per share were 2 cents compared to a loss of 37 cents a year ago. 

The retailer estimated full-year fiscal 2026 revenue to increase by plus or minus 1% and diluted earnings per share to range between 28 cents and 38 cents. 

Land's End advanced 5% and United Natural Foods decreased 7%, and both companies are scheduled to release their quarterly results later in the day.