US markets closed higher led by chip stocks, with Micron boosting sentiment through a massive investment plan tied to AI demand. Gains came despite rising US-Iran tensions. Stable jobless claims signaled labor resilience, while Fed rate hike expectations linger. Investors now shift focus to upcoming earnings season and valuations.

The Dow Jones Industrial Average ended the day up 0.29%, while the S&P 500 jumped 0.72% and the Nasdaq Composite climbed 1.12%

Wall Street rose as chip stocks rallied, offsetting concerns over escalating US-Iran tensions. Gains in semiconductor firms, led by Micron and Applied Materials, lifted indexes,…