US stocks rebound, semiconductors surge after Fed signals possible hikes
Business
US stocks made a comeback on Thursday after a rough patch, thanks to big moves in the semiconductor sector.
The Dow jumped 256 points, while the S&P 500 rose 1% and the Nasdaq rose 1.3%.
This rebound followed a Federal Reserve meeting, where policymakers signaled possible interest rate hikes due to rising inflation forecasts.
Intel jumps 7.1% after Trump announcement
Semiconductor stocks shot up after President Trump announced Intel and Apple will make chips in the US
Intel's shares climbed 7.1%, with NVIDIA and Micron also seeing gains.
With demand for chips rising and prices for chips have been on the rise, Apple CEO Tim Cook said product prices will go up to cover higher production costs.