Shares in big semiconductor manufacturers led the advance in
Shares fell 2.9% in
Bitcoin added 1.2% to
Markets rallied as prices of key commodities such as copper, zinc and aluminum slipped, alleviating concerns over inflation that triggered sell-offs earlier in the week.
On Thursday, the S&P 500 notched a 1.2% gain, clawing back almost half of its loss from a day earlier, when it had its biggest one-day drop since February. Even so, the benchmark index is on track for a 2.8% weekly decline, which would be its largest since January. The other major indexes were also on pace for sharp weekly declines, despite recouping some of their losses.
Technology stocks led the gainers after sinking earlier in the week as investors fretted about signs of rising inflation. Apple,
In a reversal from Wednesday, the energy sector was the only loser in the S&P 500 as oil prices fell sharply as the reopening of the Colonial Oil pipeline after a cyberattack eased concerns about supplies.
The S&P 500 gained 49.46 points to 4,112.50. The Dow Jones Industrial Average rose 1.3% to 34,021.45. The Nasdaq climbed 0.7% to 13,124.99. The Russell 2000 index picked up 1.7% to 2,170.95.
Investors have been questioning whether rising inflation will be something transitory, as the
Bond yields have risen sharply this week but pulled back slightly on Thursday. The yield on the 10-year
The price of
Brent crude, the international standard for pricing, lost