Stocks Rise as the Chipmakers Rebound Accelerates – US Market Wrap

Wall Street rebounded as dip buyers emerged, lifting stocks amid a rise in chipmakers on hopes that the AI trade that has propelled the bull market had more to go.
Apple is getting ready to introduce Apple Upgrade, a leasing scheme that will represent one of the largest shifts in the company’s history in terms of device sales. Investors continued to pour money back into battered semiconductor companies, sending a key industry index up 5.2%. Nvidia said that its new chip designs are now available to consumers. Intel’s stock rose as it announced plans to shed additional workers. The Nasdaq 100 gained 1.9%. These increases overcame geopolitical threats that are driving up oil prices and raising concerns about inflation, which could prompt the Federal Reserve to raise rates. Bond yields increased.