Stocks surged on Thursday, with technology shares leading the charge and building on the previous day’s momentum that saw market highs on Wall Street.
The S&P 500 climbed by 0.6%, while the Nasdaq Composite saw an even stronger increase of 0.8%. The Dow Jones Industrial Average also posted gains, rising by 240 points, or 0.6%.
Micron Technology, a semiconductor stock, saw an impressive surge of more than 16% following better-than-expected earnings. This positive momentum extended to other semiconductor companies, including Nvidia, Advanced Micro Devices, Marvell Technology, Intel, and Taiwan Semiconductor, all witnessing gains ranging from 1% to 3%.
Notably, large-cap technology stocks, which have been instrumental in driving the recent market rally, also experienced increases. Meta Platforms, Microsoft, and Amazon all saw gains of at least 1%.
These gains on Thursday were a continuation of the previous successful trading day on Wall Street, where all three major indexes reached new closing highs. The S&P 500 notably broke through the 5,200 level for the first time.
Source (CNBC)
