Nasdaq-100 jumps 3% as semiconductors and Microsoft lead rally
Business
The Nasdaq-100 surged 3% on Thursday, pulling tech stocks out of a recent slump caused by AI worries.
Semiconductors led the charge with an 8% jump, even though they're still facing their toughest month since 2008.
Microsoft's stock soared 14%, fueled by strong cloud growth, while Oracle also climbed after expanding its Google Gemini AI partnership.
US confidence rises, investors eye earnings
A pickup in US consumer spending and business investment helped boost confidence, despite slower economic growth.
Investors are now watching for Apple and Amazon's upcoming earnings: these could reveal more about how big tech is riding the AI wave and shape where markets head next.