2026.4.23 US Market Close | Tech stocks rally on easing geopolitical tensions and AI optimism

On April 23, the New York stock market saw all three major indices rebound strongly, driven by a combination of easing geopolitical concerns and optimism about AI growth. Tech stocks, in particular, led the market rally. - Dow Jones: +0.69% - Investor sentiment recovered as geopolitical risks subsided. - S&P 500: +1.05% - A strong rebound led by technology stocks. - Nasdaq: +1.64% - Surged on heightened expectations for AI industry growth. Key Issues - Easing Geopolitical Risks: News of potential de-escalation in tensions related to Iran led to a drop in international oil prices, improving investor sentiment and reviving appetite for risk assets. - Renewed AI Growth Optimism: Comments from NVIDIA's CEO and a positive outlook from TSMC reinforced the view of AI as a long-term industry paradigm, sparking a broad rally in tech stocks, including semiconductors. - Booking Holdings Plunges: Shares tumbled nearly 6% as regulatory risks from the European Union's (EU) Digital Markets Act (DMA) came into focus, raising concerns about long-term profitability. - Awaiting Key Economic Data: Market focus is now shifting to the FOMC interest rate decision on the 29th and the PCE price index release on the 30th, as investors look for clues on the Fed's future monetary policy direction. Key Stocks - Booking Holdings (BKNG): Plunged nearly 6% - The uncertainty surrounding the impact of the EU's Digital Markets Act (DMA) on its long-term business model was highlighted. - Semiconductor ETF (SMH): Rose 2.6% - Significantly outperformed the market, reflecting strong growth expectations for AI infrastructure investment.