Market Indexes Rebound After Fed's Rate Hike
Following the Federal Reserve’s rate hike on Wednesday, U.S. stock indexes initially dropped sharply but rebounded strongly by Thursday morning as investors reassessed their reaction to the decision. The Nasdaq Composite rose nearly 1.6%, while the S&P 500 and Dow Jones Industrial Average added about 1% and 0.7%, respectively. Chip stocks led the recovery, with Intel reporting a surge in demand for CPUs despite manufacturing constraints and memory shortages. Memory makers like Micron Technology and SK Hynix also saw gains as soaring prices continue to drive investor interest. Nvidia and AMD both rose sharply due to strong performance expectations tied to AI growth. The 10-year Treasury yield dipped below the 5% level, easing some pressure on equities. Meanwhile, oil prices fell slightly after reports of increased Saudi crude supply in Asia.
Tickers: $AMD $CAT $INTC $MU $NVDA $SKHYV
Topics: chip stocks interest rates market reaction oil prices Treasury yields