Tech Stocks Drive Stock Market Rally as Nasdaq Turns Positive

The Nasdaq Composite rose, driven by Apple and Tesla stocks, while chip stocks rebounded after reports of potential restrictions on AI chip exports to China. Fed Chair Jerome Powell indicated that the US central bank is likely to raise interest rates again. The Dow Jones Industrial Average fell, while the S&P 500 and Nasdaq Composite moved higher. Yields on US government bonds declined, and Bitcoin's rally slowed. Apple stock continued to rise, and investors awaited Tesla's second-quarter delivery numbers. General Mills shares dropped due to sales decline in its latest quarter, and other consumer-staples shares also fell.