Market Digest: BKNG, LEN, SYK, HONA The recent surge in crude oil prices has sent shockwaves through Wall Street, but its impact on tech stocks has been more nuanced.
As West Texas Intermediate (WTI) prices rose past $75 a barrel – a level not seen since 2014 – the technology heavy XLK index posted a modest 1.
2% gain, while semiconductors in the SMH index rebounded by a significant 2%. The semiconductor sector has been battered by years of supply chain disruptions, trade wars, and declining prices.