On Thursday, the Dow Jones Industrial Average made a recovery following its worst day since October, signaling the continuation of the year-end rally. The 30-stock Dow saw an increase of 255 points, representing a 0.7% growth, while the Nasdaq Composite experienced a 1% advance. The broader index, S&P 500, recorded an addition of 0.8%, bringing it within 1% of its all-time high at current price levels.
The upward trend in the S&P 500 was widespread, with over 450 companies in the broader index posting gains. Notably, Micron Technology emerged as the top performer, surging by 9% after surpassing quarterly expectations and providing optimistic guidance for the upcoming quarter. Furthermore, chip stocks saw a general increase, with Intel and Advanced Micro Devices each rising by 2%.
Within the Dow, Salesforce stood out as one of the leading gainers, with its shares rising by over 2% following an upgrade from Morgan Stanley.
Source (CNBC)
