The Nasdaq composite spiked up Thursday, with chip stocks a driver in the stock market's rebound from a sell-off in the previous session following the Federal Reserve's policy meeting. Chip equipment maker Lam Research (LRCX) shot higher on the stock market today on its raised outlook, while Meta Platforms (META) sank after its earnings report.
Near the end of the lunch hour in New York, the Dow Jones Industrial Average rose more than 500 points, or 1%. But a minority of the 30 stocks in the share-price-weighted index actually rose. Travelers (TRV) was the worst performer, falling 17 points, or 4%, to 371.75. The blue-chip index tumbled 2.1% on Wednesday. In Thursday's session, the S&P 500 reaccelerated its advance, rising 1.3% and not straying far from its intraday high of 7,417.
The tech-heavy Nasdaq composite, for now, was doing a better job of holding opening-hour gains than other indexes. It leaped 2.3%, adding to a jump of 1.7% minutes after the open. The composite index hit a session high of 25,112, up 8% for the year.
The Nasdaq-100 index picked up more than 3% following brutal sessions recently for memory and storage stocks. Lam shares on Thursday shot up 18%. The VanEck Semiconductor ETF (SMH) climbed nearly 7%.
Amazon (AMZN) and Apple (AAPL) are the next Big Tech companies set to release earnings reports, with their latest figures due late Thursday.
#NASDAQ #index
Near the end of the lunch hour in New York, the Dow Jones Industrial Average rose more than 500 points, or 1%. But a minority of the 30 stocks in the share-price-weighted index actually rose. Travelers (TRV) was the worst performer, falling 17 points, or 4%, to 371.75. The blue-chip index tumbled 2.1% on Wednesday. In Thursday's session, the S&P 500 reaccelerated its advance, rising 1.3% and not straying far from its intraday high of 7,417.
The tech-heavy Nasdaq composite, for now, was doing a better job of holding opening-hour gains than other indexes. It leaped 2.3%, adding to a jump of 1.7% minutes after the open. The composite index hit a session high of 25,112, up 8% for the year.
The Nasdaq-100 index picked up more than 3% following brutal sessions recently for memory and storage stocks. Lam shares on Thursday shot up 18%. The VanEck Semiconductor ETF (SMH) climbed nearly 7%.
Amazon (AMZN) and Apple (AAPL) are the next Big Tech companies set to release earnings reports, with their latest figures due late Thursday.
#NASDAQ #index
3 months ago
