U.S. stocks rise as tech stocks lift Nasdaq higher – WSJ

2024-01-19 00:45:00

Gains in technology stocks pushed major U.S. stock indexes higher on Thursday. The S&P 500 rose 0.9% and the Nasdaq rose 1.3%. The Dow rose 0.5%, ending three consecutive sessions of losses.

Updated January 19, 2024 08:45 CST

Gains in technology stocks pushed major U.S. stock indexes higher on Thursday.

The S&P 500 rose 0.9% and the Nasdaq Composite gained 1.3%. The Dow Jones rose 202 points, or 0.5%, ending three consecutive days of losses.

Information technology stocks were the best-performing sector in the S&P 500, rising 2%. Chip stocks rose after major chip supplier Taiwan Semiconductor reported a stronger outlook than Wall Street expected. The Philadelphia Exchange Semiconductor Index rose 3.4%, led by companies such as Qualcomm and Lam Research. Apple shares rose 3.3% to close at their highest level since 2024.

After experiencing a crazy rise to the end of 2023, the major stock indexes have been basically flat since January this year.

Gains in technology stocks pushed major U.S. stock indexes higher on Thursday.

The S&P 500 rose 0.9% and the Nasdaq Composite gained 1.3%. The Dow Jones rose 202 points, or 0.5%, ending three consecutive days of losses.

Information technology stocks were the best-performing sector in the S&P 500, rising 2%. Chip stocks rose after major chip supplier Taiwan Semiconductor reported a stronger outlook than Wall Street expected. The Philadelphia Exchange Semiconductor Index rose 3.4%, led by companies such as Qualcomm and Lam Research. Apple shares rose 3.3% to close at their highest level since 2024.

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After experiencing a crazy rise to the end of 2023, the major stock indexes have been basically flat since January this year.

The KBW Nasdaq Bank Index fell for a seventh consecutive session, falling 0.5% on Thursday. Discover Financial Services’ results fell short of expectations and shares fell 11%.

Health insurance stocks sold off after Humana warned that rising health care costs could affect its financial results. Humana shares fell 8%, with rivals such as CVS Health and Elevance Health also selling off.

Spirit Airlines fell 7.2%. Spirit Airlines is weighing restructuring options after a federal judge blocked JetBlue Airways’ deal to acquire the budget airline, The Wall Street Journal reported Thursday.

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