Thursday saw a rise in stocks as investors recovered from a challenging start to September and took advantage of the decline in tech companies ahead of the Federal Reserve’s rate cut next week.
The Dow Jones Industrial Average rose 235.06 points, or 0.58%, to close at 41,096.77, while the S&P 500 gained 0.75% to settle at 5,595.76. At 17,569.68, the Nasdaq Composite closed with a 1% gain.
The S&P 500 is only roughly 1.3% away from a new record and has reduced its September losses to only 0.9%. Thursday afternoon trading saw the market rise as shares of megacap tech and semiconductor companies kept rising.
Nvidia, a leader in artificial intelligence, increased 1.9%, while parent companies of Facebook and Alphabet, Meta Platforms, increased 2.3% and 2.7%, respectively.
Source (CNBC)
