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<US Mkt>Nasdaq Closes 2%+ Higher, Shrugging off Inflation Woes; Arm Skyrockets 10%; NVIDIA Soars 8%+
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US stocks tumbled in the early session on Wednesday after a slightly higher-than-expected rise in the US core CPI in August. However, led by tech stocks, the market later rebounded, with all three major US stock indexes successfully closing higher. The Nasdaq swelled 369 points, or 2.2%, to close at 17,395. The DJIA gained 124 points, or 0.3%, to close at 40,861. The S&P 500 grew 58 points, or 1.1%, to close at 5,554. Chip and AI-related stocks widened their gains after midday. Japan's SoftBank-backed Arm (ARM.US) closed 10% higher, being the best performer in the Nasdaq 100. NVIDIA (NVDA.US) soared more than 8% on reports that the US is considering to authorize its chip exports to Saudi Arabia. Broadcom (AVGO.US) advanced nearly 7%. ASML (ASML.US) escalated by more than 6%. VanEck Semiconductor ETF (SMH.US) rallied more than 5%. Starbucks (SBUX.US) jumped up by more than 5% after its new CEO stated he would focus on improving issues at US stores. Tesla (TSLA.US) managed to turn upward, rising about 1% for the day. American Express (AXP.US) increased by over 3%, pushing the DJIA higher along with Intel (INTC.US) and Amazon.com (AMZN.US) each up about 3%. AAStocks Financial News |
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