Nvidia AI PC Chip Rally Buffers Middle East Tensions; US Stocks Mixed

U.S. stocks opened mixed on June 1, 2026, with the Dow falling 170 points and the Nasdaq edging higher, as Nvidia's (NVDA) new AI personal computer processor boosted technology shares, but escalating U.S.-Iran tensions sent oil prices surging and capped broader gains. The S&P 500 was flat, and the Philadelphia Semiconductor Index rose 0.5%. Nvidia shares climbed 3.8% after unveiling the AI PC chip with Microsoft (MSFT); rival chipmakers Qualcomm (QCOM) and Intel (INTC) fell sharply. Brent crude jumped 4.8% to $95.49 a barrel after Iran suspended information exchanges with the U.S., dimming hopes for a Strait of Hormuz shipping accord. The 10-year Treasury yield ticked up to 4.46%. Investors also awaited the June 5 nonfarm payrolls report for clues on the Federal Reserve's next move.