New York stocks snapped a three-day losing streak with a single-session rebound. The S&P 500 closed up 0.89% at 7,509.20, the Nasdaq up 1.29% at 25,837.21, and the Dow up 0.74% at 52,224.64 (MarketWatch, CNBC). The trigger was semiconductors. Memory chips in particular (semiconductors that store data) staged a sharp rebound (Bloomberg). After falling more than 20% over the past month, dip-buyers piled in. Expectations of rising memory prices added fuel to the fire. Investors set aside the Iran situation for now and turned their attention to this week's Alphabet and Tesla earnings (Yahoo Finance). News that Iran had received a ceasefire proposal through mediators helped ease the spike in oil prices. The VIX (volatility index) plunged 8.74% to 17.02, and the Fear & Greed Index remained in "Fear" territory at 41. ## Sector & Asset Trends

Money flowed in one direction on the day. Cash poured into beaten-down semiconductors while rotating out of defensive stocks and software. It was a clear-cut risk-on rotation day. - Technology (XLK +2.89%) — The sharp rebound in memory semiconductors pushed the entire sector higher. The semiconductor ETF (SOXX) jumped 5.45% (Motley Fool). - Energy (XLE +0.97%) — Oil prices rebounded on concerns about Houthi maritime blockades. The crude oil ETF (USO) rose 2.66% (New York Times). - Small caps (Russell 2000, IWM +1.45%) — Risk appetite returned, spreading buying into small- and mid-cap names. - Consumer staples (XLP -0.94%) — Defensive stocks were out of favor in a risk-on session. It was the weakest sector of the day. - Communication services (XLC -0.69%) — Alphabet fell 1.4% ahead of its earnings report, weighing on the index (Wall Street Journal). - Treasuries (long-term TLT -0.27%, intermediate-term IEF -0.25%) — Prices on these safe-haven bonds edged lower, meaning yields rose slightly — confirming the return of risk appetite. - Gold & silver (GLD +1.96%, SLV +4.12%) — Gold rose on demand for protection against Middle East risk, and silver jumped more than 4%. It was a day when risk assets and safe havens rose together. ## Key Stock Moves

Today's surge was concentrated in semiconductors. Conversely, software and defensive names were pushed to the back of the line. Surge

> Key events for the next trading day are displayed automatically. ## Expert Commentary

> "Investors have to weigh strong earnings against the ongoing war with Iran. To end that tug-of-war, they need to hear confirmation from hyperscalers (large cloud providers) like Alphabet that they will continue capex."

> — Art Hogan, Chief Market Strategist, B. Riley Wealth

> "I expect semiconductors to remain volatile going forward. They will go through a process of unwinding overbought conditions, profit-taking pressure, and clearing out one-sided positioning."

> — Adam Turnquist, Chief Technical Strategist, LPL Financial

> "The next two weeks will be a decisive stretch for earnings, and it's not just a tech story. Investors are watching to hear how other companies — including Nvidia and AMD — frame this quarter's results and forward guidance."

> — Bret Kenwell, Investment Analyst, eToro

The proprietary technical signals split exactly down the middle today — 120 bullish and 120 bearish. Indices climbed sharply, but the signals were evenly matched. Beaten-down semiconductors bounced from oversold conditions and flashed bullish signals, while energy names that had rallied heavily showed overbought signals. This is a signal that leadership is shifting (View Technical Signals Report). To sum it up in one line: today was the day semiconductors lifted the entire market. Tomorrow, all eyes will be on whether Alphabet and Tesla confirm that AI investment will continue.