Why did chip stocks rebound on Monday, and what triggered their sharp selloff on Friday?

Chip stocks rebounded on Monday as shares of Nvidia, Broadcom, and Micron Technology rose between 1.5% and 3.9% premarket, stabilizing after plunging to over two-week lows; the sharp selloff on Friday was driven by concerns that the sector was growing too fast too quickly, fueled by expectations of tighter monetary policy and underwhelming results from Broadcom last week.

What role did Middle East tensions and energy prices play in market movements described in the article?

Renewed strikes in the Middle East — specifically Israeli strikes on Iran and fresh attacks on Lebanon — soured hopes of an imminent end to the wider war, pushing crude oil prices up more than 4% to over $95 a barrel, which in turn raised concerns about higher fuel costs and caused U.S. airline stocks like Southwest Airlines and Delta to fall 2.4% each.

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S&P 500 and Nasdaq futures rose as chip stocks rebounded, while crude oil prices surged over 4% amid Middle East tensions. Eli Lilly shares gained following positive clinical trial results for its obesity drug retatrutide.

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