Full coverage· Economy· Updated
Wall Street Surges Despite Interest Rate Hike, Chip Stocks Lead Gains
Wall Street stocks closed significantly higher, led by chip and technology shares, despite the Federal Reserve's recent interest rate hike. Investors showed optimism about inflation control and the economy, while Intel's stock surged on production talks.
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What happened
- 01Wall Street closed higher, led by tech and chip stocks.
- 02Intel stock jumped on potential memory chip production talks.
- 03The market reacted positively to falling oil prices and bond yields.
- 04Investors remained optimistic despite a Federal Reserve rate hike.
- 05Tower Semiconductor announced commercial delivery of optical engines.
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