S&P 500 closes higher, Nasdaq climbs nearly 2% as chips fuel comeback from Fed sell-off: Live updates
Wall Street rebounded Thursday after a sell-off triggered by Fed Chair Kevin Warsh's anti-inflation stance. Gains in semiconductor stocks and a U.S.-Iran peace agreement helped the Nasdaq climb nearly 2%. The recovery followed investor fears regarding potential interest rate hikes.
What changed
New reports identify Kevin Warsh as the Fed Chair whose comments caused the sell-off and cite a specific Intel-Apple partnership as a driver for tech gains.
Live updates
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Nasdaq jumps nearly 2% as chip deals and Iran peace accord spark recovery
confidence 90%Wall Street rebounded Thursday after a sell-off triggered by Fed Chair Kevin Warsh's anti-inflation stance. Gains in semiconductor stocks and a U.S.-Iran peace agreement helped the Nasdaq climb nearly 2%. The recovery followed investor fears regarding potential interest rate hikes.
What's confirmed:
- The Nasdaq Composite rose nearly 2% during the rebound.
- Stocks recovered on Thursday after a Wednesday sell-off driven by Federal Reserve rate hike fears.
- A U.S.-Iran peace agreement contributed to the market rise.
Still unconfirmed:
- Fed Chair Kevin Warsh took a tough anti-inflation stance that spooked investors.
- An Intel partnership with Apple boosted tech stocks.
- Oil prices were mixed due to hopes of the Hormuz strait reopening.
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US Indices Rally as Iran Deal Optimism and Chip Stocks Offset Rate Hike Fears
confidence 85%The S&P 500, Nasdaq, and Dow ended the week higher. Gains in semiconductor stocks and optimism over a US-Iran peace deal countered concerns about Federal Reserve rate hikes. Markets are now monitoring upcoming inflation data and central bank commentary.
What's confirmed:
- The S&P 500, Nasdaq, and Dow ended higher.
- Semiconductor stocks boosted investor confidence.
- Investors are concerned about potential Federal Reserve rate hikes.
Still unconfirmed:
- An interim US-Iran peace deal may lead to the reopening of the Strait of Hormuz.
- Intel shares supported the Nasdaq rally.
- Indian equities ended lower on Friday with the Sensex falling 607 points.
- Political uncertainty in the UK weighed on the sterling.
- Below-normal rainfall in India is raising concerns about food prices and rural spending.
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Tech Strength Drives S&P 500 and Nasdaq to Record Closes
confidence 90%US stocks ended higher as technology gains pushed the Nasdaq and S&P 500 to new record closes. Nvidia rose following the debut of a new AI PC chip and Micron reached $1,000. Inflation concerns remain due to rising oil prices and Iran-US tensions.
What's confirmed:
- The S&P 500 and Nasdaq reached fresh record closes.
- Nvidia rose after it unveiled a new AI PC chip.
- Micron hit $1,000.
Still unconfirmed:
- Iran-US tensions and rising oil prices are keeping inflation concerns in focus ahead of jobs data.
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US Stocks Recover Thursday as Chip Sector Boosts Nasdaq
confidence 90%Wall Street indexes closed higher on Thursday, recovering most losses from a previous session sell-off. The Nasdaq Composite rose nearly 2% driven by chip stocks, while the S&P 500 and Dow Jones also gained. This rebound follows a Federal Reserve hint regarding a potential rate hike.
What's confirmed:
- The S&P 500 rose 1.08% on Thursday to close at 7,500.58.
- The Nasdaq Composite climbed 1.91% to finish at 26,517.93.
- The Dow Jones Industrial Average increased by 72.15 points, or 0.14%.
- U.S. stocks staged a comeback after the Federal Reserve indicated a possible rate hike this year.
Still unconfirmed:
- Intel led a chip stock rally.
- Intel and Apple have partnered.
- Bloom Energy was the highest climber among U.S. indexes.