Stocks Rebound From Fed Day Sell-Off, Led By Microsoft And Chipmakers

Tiger Newspress07-30 21:32

U.S. stocks rose Thursday, rebounding from the prior day’s selloff when the Federal Reserve decided to hold rates steady. Microsoft and semiconductors helped drive those gains.

The Dow Jones Industrial Average added 321 points, or 0.62%. The S&P 500 advanced 0.93%, while the Nasdaq Composite climbed 1.58%.

Memory and Chip Stocks Surge, SK Hynix Jumps Over 8%, SIMO Soars 29%.

Microsoft jumped 11% amid growth from its Azure business. Semiconductors jumped as a result, with the iShares Semiconductor ETF (SOXX) higher by more than 5.8%. In contrast, Meta Platforms was down 9% after issuing a soft revenue forecast and a 91% drop in second-quarter free cash flow.

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