U.S. equities rose Thursday amid easing Middle East tensions and a rebound in chip shares, lifting the S&P 500 and Nasdaq.
The S&P 500 climbed 0.8% on Thursday, closing at session highs as investors shrugged off geopolitical concerns in the Middle East. The Nasdaq Composite added 0.3%, supported by a rally in semiconductor stocks, which offset weakness in other tech sectors.
The gains followed a volatile week, with the S&P 500 recovering from a two-day slide. Semiconductor names led the advance, reversing losses from earlier in the week. Trading volumes remained subdued, reflecting cautious sentiment ahead of key economic data.
Major averages closed near their best levels of the day, with the Dow Jones Industrial Average also posting modest gains. Market participants awaited Friday’s inflation and consumer sentiment reports for further direction.