As Wall Street moved towards a solid weekly gain, stocks increased, setting the S&P 500 up for its fifth straight positive day.
The Dow Jones Industrial Average had a 1% gain, or 427 points, while the broad market index had a nearly 0.7% gain.
By 0.7%, the Nasdaq Composite increased. The bulk of this week’s recovery rise was driven by investors pilfering shares of large tech and semiconductor companies.
ARM Holdings, a major chipmaker, rose 7.5%, while Nvidia increased by 0.5%. Super Micro Computer added 5.9%. Uber surged by nearly 5%, while Google added 1.8%.
Chief global strategist at LPL Financial, “the market is trying for a positive close after what’s been a turbulent, yet hopeful, week.”
Source (CNBC)
