Stocks rose on Thursday, with technology shares leading the way and setting new records on Wall Street. The S&P 500 and Nasdaq Composite each rose by 0.6% and 0.8%, respectively, while the Dow Jones Industrial Average surged by 310 points, or 0.8%.
Micron Technology saw a significant increase of 16% following strong earnings, marking its best day since December 2011. This positive news also boosted the semiconductor sector, with companies like Nvidia, Intel, and Taiwan Semiconductor all seeing gains of over 2%. Marvell Technology and the VanEck Semiconductor ETF also experienced significant surges of 4%.
In addition to the semiconductor sector, megacap tech stocks played a significant role in driving the market gains. Companies like Meta Platforms, Microsoft, and Amazon all saw increases of at least 1%. However, Apple diverged from the rest, dropping 3.5% after the Justice Department filed an antitrust lawsuit against the tech giant.
Source (CNBC)
