Stocks
US Stocks Surge as Bond Yields Ease Amid AI-Fueled Rally
The US stock market saw a significant rally on Thursday as bond yields eased and technology companies performed well.
The S&P 500 rose by 1.1%, while the Dow Jones Industrial Average gained 1.2% and the Nasdaq composite closed 1.4% higher.
The rally was led by big technology and communication services stocks, which tend to have a significant influence on the broader market's direction.
Microsoft rose by 2.7%, Apple gained 1%, and Meta climbed 3%. Nvidia, whose high-end chips are used in AI applications, rose 1.8% after announcing its acquisition of Hugging Face for $13 billion.