After a tumultuous trading session, investors bought tech shares and processed new inflation data, which led to a rise in stocks on Thursday.
While the Dow Jones Industrial Average rose 172 points, or 0.4%, the broad market index increased by 0.6%. The Nasdaq Composite saw a 0.8% increase. The market saw a lift during afternoon trading on Thursday as shares of megacap tech and semiconductor names kept rising.
Nvidia, the leader in artificial intelligence, increased 2.7%, while parent companies of Facebook and Alphabet, Meta Platforms, increased by 2.4% and 2%, respectively.
This week’s inflation numbers were the last available before the Federal Reserve’s meeting on September 17–18, when officials from the central bank are anticipated to announce a half-percentage-point reduction in interest rates.
Source (CNBC)
