US Stock Market Move | Nasdaq Composite Index extends gains to 1.2%; semiconductor concept stocks rise

On Monday, the U.S. Nasdaq Composite Index rose, extending its gain to 1.2%, with semiconductor stocks moving higher. ARM (ARM.US) gained over 5%, NXP Semiconductors NV (NXPI.US) rose over 4%, SK Hynix (SKHY.US) gained over 3%, while Micron Technology, Inc. (MU.US), NVIDIA Corporation (NVDA.US), and Intel Corporation (INTC.US) rose nearly 3%. Broadcom Inc. (AVGO.US) gained over 2%, and Qualcomm (QCOM.US), Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US), and AMD (AMD.US) rose nearly 2%. The U.S. AI bull market ushers in a "critical judgment week": earnings reports from the three major cloud giants, the Federal Reserve's decision, and other events mean the U.S. stock market is entering a highly decisive week. On the surface, this is a dense earnings window. In essence, it is a synchronized stress test of the foundational narrative of the artificial intelligence (AI) bull market. The earnings reports of the three hyperscale cloud service providers set to appear this weekAlphabet, Microsoft Corporation, and Amazon.com, Inc.as well as those of the two major memory chip giants, SK Hynix and Samsung Electronics, will test the quality of the recently much-worried-about AI trade. Meanwhile, the Federal Reserve will announce its interest rate decision this week, and the market widely expects the central bank to hold steady. What is more noteworthy than the rate decision itself is Chairman Warsh's communication stance at the post-meeting press conference.