Chip stocks rallied in morning trading. Intel rose 6%; Direxion Daily Semiconductors Bull 3x Shares rose 4%; Western Digital, AMD, and Arm rose 3%; SK hynix and Seagate rose 2%; ASML, TSMC rose 1%; Nvidia rose 0.9%.
Optical communications stocks rose in morning trading. AXT rose 7%; $Semtech(SMTC) and Photonics & Optics ETF rose 6%; Credo Technology, Nokia, and Lumentum rose 5%; Coherent and Ciena rose 4%.