Wall Street's main indexes advanced on Thursday, lifted by hopes that technology giants might dodge President Donald Trump's newest tariffs on chip imports.
Apple's (AAPL.O), opens new tab shares climbed 2.4%, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years.
Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have committed to do so.
Shares of chipmakers Nvidia (NVDA.O), opens new tab and Broadcom (AVGO.O), opens new tab rose 1.3% each, while peer Advanced Micro Devices (AMD.O), opens new tab advanced 3%.
The tech sector (.SPLRCT), opens new tab emerged as the top performer, gaining 1.1%, while the healthcare sector (.SPXHC), opens new tab fell to the bottom.
Eli Lilly (LLY.N), opens new tab dropped 11.2% after reporting data on its late-stage oral weight-loss drug. The drugmaker also raised its full-year profit forecast.
At 9:36 a.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab rose 263.08 points, or 0.60%, to 44,456.20, the S&P 500 (.SPX), opens new tab gained 37.82 points, or 0.60%, to 6,382.88 and the Nasdaq Composite (.IXIC), opens new tab gained 177.85 points, or 0.84%, to 21,347.27.
Source: Reuters
Tested EN...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is starting to lose steam. At the same time, US governmen...
US stocks were mixed on Wednesday as investors weighed uneven economic data against expectations for eventual Federal Reserve easing, with the S&P 500 easing 0.2% and the Dow Jones sliding 0.8% fr...
European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump's threat to annex Greenland. The pan-European Stoxx 600 was little chang...
Asian stock markets weakened slightly on Wednesday after posting their best start to the year in history. The decline was driven by a decline in Japanese stocks amid escalating tensions with China. Th...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...