Nasdaq gains on chip rally; Fed holds rates steady
By Market Pulse ·
Stocks closed higher as tech and semiconductors advanced amid strong earnings from key chipmakers and a Federal Reserve decision to hold rates steady.
- Indices: The Nasdaq Composite rose 1.18% to 26,477.81, the S&P 500 gained 0.60% to 7,722.60, and the Dow Jones Industrial Average added 0.03% to 52,377.57 Yahoo Finance - Semiconductors: The iShares Semiconductor ETF (SOXX) closed up nearly 4%, driven by strong demand for AI-related chips and SK Hynix's record quarterly profit Yahoo Finance - Broadcom (AVGO): Shares jumped 4% after announcing a $63 billion financing deal allowing Anthropic to purchase its AI technology through a special purpose vehicle backed by major banks Yahoo Finance - SK Hynix (SKHY): Reported a 632% increase in operating profit and 328% revenue growth, boosting sentiment across the semiconductor sector Yahoo Finance - Vertiv (VRT): Stock rose 16.0% after the company raised its full-year forecast, signaling strong demand in data center infrastructure StockTitan - Enphase Energy (ENPH): Shares fell nearly 15% after its Q3 results missed estimates and the company issued a weak outlook for Q4 Yahoo Finance
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