US stocks rise as S&P 500 gains 0.5% and Dow advances 0.8%

  • US stocks finished mostly higher as traditional sectors offset chip-producer losses.
  • The S&P 500 rose 0.5%, while the Dow gained 0.8%.
  • Treasury yields stopped rising despite fresh yen-market intervention by Tokyo.

US stocks recovered on Thursday as traditional economic sectors offset weakness among chip producers after Treasury yields halted their recent rise. The S&P 500 gained 0.5% and the Dow rose 0.8%, while the Nasdaq 100 edged lower. Equities ended their pullback from earlier in the week, when increased expectations of a Federal Reserve (U.S. central bank) rate hike this month pressured markets. Treasury yields stopped rallying despite fresh intervention by Tokyo in the yen market. Microsoft, Palantir, Meta and Tesla each gained more than 3%, while Broadcom fell 5% despite reporting 221% annual revenue growth in its last fiscal quarter. Sandisk and Marvell declined more than 1%, and Hewlett Packard Enterprises dropped 4.3% after results missed expectations.

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