World stocks climb on chip rally; dollar steadies near one-year high

World stocks climb on chip rally; dollar steadies near one-year high By Chibuike Oguh Thu, June 25, 2026 at 6:16 PM GMT+2 3 min read QCOM ^IXIC MU DX-Y. NYB ^DJI By Chibuike Oguh NEW YORK, June 25 (Reuters) - Global stocks rose on Thursday as strong earnings from chipmakers lifted sentiment, while the dollar hovered near a one-year high, with investors remaining wary about stretched valuations. The benchmark ‌S&P 500 and the Nasdaq were advancing on Wall Street, led by industrials, healthcare and materials stocks.

Micron was ‌up 10% after the memory chipmaker's solid forecast helped extend its AI-driven ascent. Qualcomm rose 4% after reporting that it expects $15 billion a year in sales ​from its data center business by 2029. The Nasdaq was down, however, pulled lower by choppy trading among most megacap technology stocks.

Apple was down 5. 3%. The Dow Jones Industrial Average rose 1%, the S&P 500 rose 0.

21%, and the Nasdaq Composite fell 0. 46%. AI VALUATIONS AND INTEREST RATES DRIVE SENTIMENT Investor concern that valuations of AI-related companies have become stretched after years of gains has weighed on markets in recent days, leading to volatile ‌sessions.

Furthermore, markets are pricing in higher interest ⁠rates from the U. S. Federal Reserve and other central banks.

"If you took the tech sector alone against the S&P 500 excluding technology going back to 2000, we are about 2. 8 standard deviations ⁠away from the average," said Marc Dizard, chief investment officer at Huntington Bank. "When you get the magnitude of that move, it's not surprising to us that we would get a little bit of a pause, some consolidation and rebalancing where investors are taking profits off ​the table.

" In ​Europe, the broad STOXX 600 rose 0. 92%. MSCI's gauge of stocks across ​the globe rose 0.

42%. "Technology is a long-duration asset as ‌the story plays out, not necessarily in the next six months. And when you have the Fed come out with a more hawkish tone, long-duration assets are going to sell off in that time period," Dizard said.

U. S. inflation data on Thursday broke 4% annually for the first time in three years as the Middle East conflict boosted energy prices, but the monthly reading was slightly below expectations, helping to push yields lower.

The yield on benchmark U. S. 10-year notes fell 1.

37 basis points to 4. 386%. The 2-year note ‌yield fell 2.

64 basis points to 4. 111%. OIL BACK TO PRE-WAR LEVELS Oil prices edged higher but ​were still near levels last seen before the start of the U.

S. -Israeli war ​on Iran, as expectations of rising supply from ​the Middle East outweighed demand concerns. Brent crude futures were up 1% to $74.

49 a barrel. In currencies, the dollar ‌fell against major peers but was still near ​its highest level in a year. Story Continues The ​euro was last at $1.

1388, a whisker above Wednesday's 13-month low, while the Japanese yen was near its lowest in 40 years against the dollar, with more intervention widely expected from Tokyo after the last bout around May ​failed to stem the currency's decline. The yen strengthened 0. 1% against the ‌greenback to 161.

63 per dollar. The dollar index, which measures the greenback against a basket of currencies including the yen ​and the euro, fell 0. 29% to 101.

30. Gold rose as the U. S.

dollar fell. Spot gold rose 0. 68% to $4,027.

67 an ounce.