The Nasdaq rose more than 1% after the market opened: investors are buying tech stocks on the dip

The Nasdaq Composite, a "technology-heavy" index, rose by about 1.3% in the first few minutes of trading in the U.S. on Monday, June 29. The broad-market S&P 500 index gained about 0.8%, while the Dow Jones Industrial Average, an index of “blue-chip” stocks, rose 0.5%. The Russell 2000 index of small- and mid-cap companies showed virtually no movement.

Investors decided to take advantage of the decline in tech stocks and the easing of tensions in the Middle East, which had escalated last week due to mutual strikes between the U.S. and Iran, according to Bloomberg.

Comcast was among the top performers in the S&P 500 after the market opened: the company announced that it intends to spin off its technology and media businesses, resulting in NBCUniversal and Sky becoming a separate company. Comcast shareholders will subsequently hold shares in both Comcast and the new NBCUniversal entity, the company said.

Also, right at the start of trading on Monday, chipmakers’ stocks returned to modest gains: the Philadelphia Stock Exchange Semiconductor Index rose by about 1% after last week marked its worst performance since April 2025. Nvidia shares rose 1.4%, while Intel fell 3% and Micron fell 4.5%.

“The sharp sell-off in tech stocks [last week] was not driven by fundamental factors. Although concerns are mounting about AI-related trading and its sustainability, “The Magnificent Seven” are expected to continue driving earnings growth this year as they increase capital expenditures on AI infrastructure,” said XTB Research Director Kathleen Brooks in a Bloomberg report.

This article was AI-translated and verified by a human editor