Major US stock indexes rose more than 1% on Thursday and extended the market’s recent rally as investors focused on struggling chipmakers and growth big names as oil prices fell.
Nvidia Corp shares gained 9.8% and led a rally across the chip sector, reaching its highest level since mid-January. Intel Corp rose 6.9%, and both helped boost the S&P 500 and Nasdaq indices.
The Philadelphia SE semiconductor index jumped 5.1% in its biggest daily percentage gain since Feb. 15, but remains down about 10% for the year so far. Apple shares rose for the eighth straight day after falling earlier this month.
The top three indices have advanced in six of the last eight sessions. All three rallied after the S&P 500 and Dow Jones confirmed entry into correction territory and the Nasdaq established that it is in a bear market.
The S&P 500 index closed up 1.43% at 4,520.16 points. The Dow Jones rose 1.02% to 34,707.94 points. The Nasdaq Composite technology index rose 1.93% to 14,191.84 points.
Source: CNN Brasil
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