US Stocks Rise as Tech Giants Boost Market
The US stock market closed higher on Thursday, with the S&P 500 rising 1.1%, the Dow Jones Industrial Average gaining 1.2%, and the Nasdaq composite closing 1.4% higher.
Big technology companies, including Microsoft, Apple, and Meta, led the rally, with Microsoft up 2.7%, Apple up 1%, and Meta up 3%.
Nvidia's stock also rose 1.8% after the company announced its acquisition of Hugging Face for $13 billion.
However, oil prices initially ticked higher due to ongoing clashes between the US and Iran but ended little changed, with Brent crude down 0.1% to settle at $95.52 per barrel and US crude up 0.3% to settle at $91.30 a barrel.
The yield on the 10-year Treasury dropped to 4.77% from 4.79%, while the yield on the 2-year Treasury slid to 4.34% from 4.39%.