U.S. stocks rose on Thursday, with traders looking to recover after the Federal Reserve indicated the possibility of a rate hike this year — sparking a selloff in equities during the previous session.
The Dow Jones Industrials regained 277.45 points, to open Thursday at 51,770.
The S&P 500 index hiked 72.45 points, or 1%, to 7,492.55.
The NASDAQ shot higher 309.15 points, or 1.2%, to 26,330.83.
Intel led chip stocks higher, rising 7% after President Donald Trump said the company will partner with Apple on designing chips in the U.S.
Fellow semiconductor names such as Nvidia and Micron Technology were also higher by more than 1% and around 6%, respectively.
Wall Street sold off Wednesday after the Federal Reserve’s first meeting with Kevin Warsh as chairman raised worries about monetary policy going forward.
Policymakers’ “dot plot” revealed that nine out of 18 Fed officials now see interest rates increasing in 2026.
Complicating the forecast was Warsh’s decision to abstain from submitting a rate forecast. However, the chairman repeatedly emphasized the goal of achieving “price stability” during the press conference, exhibiting a tone seen as rather hawkish.
Prices for the 10-year Treasury rallied, lowering yields to 4.43% from Wednesday 4.50%. Treasury prices and yields move in opposite
directions.
Oil prices sank $2.79 to $74.00 U.S. a barrel.
Gold prices dropped $113.00 to $4,268.40 U.S. an ounce.
Stocks Try to Recover from Fed-Led Selloff
