On Thursday, stocks saw an uptick with technology shares leading the way, propelling the major indices to new record highs.
The S&P 500 and Nasdaq Composite rose by 0.4% and 0.2%, respectively, while the Dow Jones Industrial Average surged by 285 points, or 0.7%.
Micron Technology saw a significant jump of 14% following strong earnings, marking its best performance since December 2011. This positive development boosted the semiconductor sector, with Nvidia and Marvell Technology posting gains of over 1%.
Taiwan Semiconductor also experienced a 2% increase, and the VanEck Semiconductor ETF surged by 2.3%. Additionally, Broadcom saw a notable increase of 5.6%.
Several megacap tech stocks, which have been driving the recent market rally, continued to contribute to the overall gains. Microsoft recorded a nearly 1% increase, while social media company Reddit saw an impressive debut, surging over 48% above its initial public offering price.
Source (CNBC)
