US Stocks Close Higher as Easing Iran Tensions Boost Market; TSMC ADR Rises 0.46%

Wall Street stocks climbed on August 3, with the Dow Jones Industrial Average reaching a new record high. The market rally was fueled by signs of de-escalation in US-Iran tensions, which helped lower oil prices and Treasury yields. This positive momentum continued from a strong start to August for US equities.

The Nasdaq Composite surged over 2%, and the S&P 500 neared its all-time high. Technology stocks played a crucial role in driving the market upward, alongside the easing geopolitical situation. Amazon's market capitalization surpassed $3 trillion for the first time following its earnings report, and its stock price rose 4.58%. SpaceX also saw its stock climb 5.68% ahead of its first quarterly earnings report.

Other major tech companies also posted gains: Meta surged 6.02%, Alphabet rose 4.88%, and Microsoft climbed 4.93%. While Apple experienced a slight dip of 1.78%, the broader semiconductor sector showed strength. AMD was up 1.78%, Nvidia gained 2.93%, Qualcomm increased by 2.68%, and Micron saw a 0.79% rise. Taiwan Semiconductor Manufacturing Company's ADR also climbed 0.46% to $406.11, though United Microelectronics Corporation's ADR fell 1.79% to $18.69.

The Dow Jones Industrial Average gained 693.38 points, or 1.32%, to close at 53,178.41. The S&P 500 advanced 110.78 points, or 1.48%, to 7,600.50. The Nasdaq Composite jumped 540.04 points, or 2.13%, to 25,913.90. The Philadelphia Semiconductor Index rose 119.28 points, or 1.05%, to 11,430.35.