economy
Fedspeak vs. war deal: Here are the things that drove this week's stock market
The S&P 500 surged on Thursday, making up for losses seen after central bankers convened.
TL;DR
- The S&P 500 and Nasdaq recovered from mid-week losses caused by Federal Reserve signals of potential interest rate hikes.
- Positive developments regarding a U.S.-Iran memorandum of understanding led to lower oil prices, benefiting stocks.
- Chipmaker stocks, including Intel, Nvidia, and Broadcom, experienced significant price increases.
- Intel's stock surged on news of Apple's collaboration for chip development in the U.S., with Intel being highlighted as a favorite stock by Jim Cramer.
- Broader tech stocks like Microsoft, Amazon, Meta Platforms, and Alphabet saw some hits mid-week but mostly ended the week higher, though with smaller gains compared to chipmakers.