Stocks rise as chipmakers advance and oil prices ease

U.S. stocks moved higher as chipmakers posted gains and oil prices eased, helping support sentiment in a session that also featured mixed company news and fresh economic data. Micron Technology climbed after announcing a multibilliondollar investment aimed at strengthening the U.S. semiconductor supply chain, while semiconductor shares broadly advanced. Other notable movers included Mara Holdings, which rose after announcing a land acquisition tied to expanded power capacity, and Paramount Skydance, which fell after a report that several U.S. states may pursue an antitrust lawsuit over its Warner Bros. Discovery deal. Investors also weighed a drop in existing home sales for June, a decline in jobless claims, and comments from Apollo Global Management economist Torsten Slok warning that a slowerthanexpected AI payoff could pressure major tech stocks and the broader market. In other markets, European stocks finished higher, while oil prices fell back after earlier gains tied to renewed U.S.Iran tensions.