Chipmakers Boost Stocks as Oil Declines | Closing Bell

US equities rallied broadly, led by tech and semiconductors as AI-related trades gained traction. Hosts highlighted specific AI beneficiaries including optical networking player Lumentum, Micron boosting capex for memory chips, and Meta's plan to monetize AI infrastructure. Oil prices fell and bond yields declined, supporting risk appetite. Earnings updates from Aritzia, PepsiCo, and Costco painted a mixed consumer picture. - Major US indices closed higher, with S&P 500 up ~0.8%, Nasdaq up ~1.3%, and Russell 2000 up 1.2%. - Semiconductor sector surged over 3%, with AI trade again in focus. - Lumentum (LITE) jumped 11% on expectations of optical networking demand for AI data centers. - Micron (MU) rose 4.5% after announcing a 50% increase in US plant spending to meet memory chip demand. - Meta (META) gained nearly 5% on plans to rent out AI infrastructure and develop a cloud business. - Oil declined about 2.5%, while Treasury yields fell across the curve, aiding small caps. - Aritzia beat earnings and guided in line; PepsiCo and Costco flagged consumer weakness tied to gas prices. - AstraZeneca and Ionis Pharma fell sharply after a key drug trial failure.