Stock Market Today, June 29: Nasdaq Composite Outperforms as Tech Stocks Gain on Easing Geopolitical Tensions

The Nasdaq Composite jumped 2.07% on June 29, breaking a five-day losing streak as easing U.S.-Iran tensions revived tech stocks. The S&P 500 climbed 1.18%, while the Dow Jones Industrial Average notched a record close.

Tesla drove mega-cap momentum with a 5.8% surge. Alphabet officially joined the Dow Jones Industrial Average, replacing Verizon in the index's lineup—a reshuffle that typically triggers index-fund rebalancing flows.

Semiconductor stocks rallied on news of a $518 billion chip fabrication partnership between SK Hynix and Samsung, signaling accelerated infrastructure investment in the sector. The deal underscores continued commitment to fab capacity expansion despite recent industry headwinds.

The Nasdaq's 2.07% single-day gain marks its strongest session in weeks, with tech's outperformance reflecting renewed risk appetite as geopolitical headlines shifted from escalation to détente.