Aniket Pujari
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Semiconductor stocks such as Nvidia rose 4.7%, while Advanced Micro Devices gained 3.5% and Broadcom added 3.8%, sending the Philadelphia SE Semiconductor Index up 3.6%.
Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction and forecast more cuts were on the horizon.
Rate-sensitive growth stocks that have led much of this year’s rally rose. Microsoft added 2%, Tesla gained 4.2% and Apple advanced 2.6%.
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