Tech Rebound Lifts Stocks as Oil Rally Hits Pause: Markets Wrap

Dip buyers drove technology stocks higher, with traders betting that a record-breaking rally in chipmakers has further room to run. Oil broke a streak of three daily gains even as the Strait of Hormuz remained shut.

Nasdaq 100 contracts advanced 0.9% alongside a rebound in South Korea’s Kospi index and an all-time high for a key tech-heavy gauge in China. S&P 500 futures gained 0.3%, while mining stocks led a 0.5% advance in Europe.