The Nasdaq Composite gained 1.7% in a sharp market rebound. [26] The S&P 500 rose 1.1% during the session. [26] These gains reversed losses following the Federal Reserve's first benchmark interest rate hike in three years. [2, 23] Investors largely looked past concerns regarding the central bank's monetary tightening. [8]
Intel shares surged over 7% after its CEO reported the company can only meet half of current CPU demand. [5, 8, 9] Manufacturing and memory constraints limited supply, triggering a broad rally across the semiconductor sector. [5, 18] AMD, Nvidia, and Micron Technology all recorded significant gains. [18]
The SEC cleared a path for trading tokenized stocks, further boosting investor sentiment. [1, 3]