U.S. stocks gained ground Thursday, bouncing back from the previous day’s decline following the Federal Reserve’s decision to keep interest rates unchanged. Leading the rally were Microsoft and semiconductor stocks.
The Nasdaq Composite rose approximately 3%, breaking a six-day losing streak.
The Dow Jones Industrial Average increased by 645 points, or 1.3%, and the S&P 500 gained 1.7%.
Microsoft shares soared over 16% after reporting growth in its Azure cloud business.
Semiconductor stocks also saw strong gains, with the iShares Semiconductor ETF (SOXX) up more than 8%. Micron Technology jumped 13%, and Advanced Micro Devices increased over 13%.
Source (CNBC)
