Tech Rebound Drives Indexes as AI CapEx Doubts Persist

Tech and semiconductor shares spearheaded a solid rebound in U.S. stock markets, lifting the Nasdaq over 1% and pushing the Dow Jones to a record high [1]. The rally was supported by an extended chip supply deal between Apple and Broadcom, which eased lingering supply chain concerns [2][3]. Despite the positive tone, broader investor sentiment remains highly sensitive to massive capital expenditures in artificial intelligence, with questions growing about when these huge outlays will show realistic financial returns [4][5][6]. Macroeconomic data painted a mixed picture. US ISM Services PMI dipped slightly to 54.0, while the May trade deficit narrowed…