Chip giant led the rise in the US stock market

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Chip giant led the rise in the US stock market
Photo: Lise Åserud/NTB/TT

The arrows pointed upwards on Wall Street on Thursday after the news that inflation in the US is decreasing more than analysts had predicted.

After four days of negative numbers, the broad S&P 500 index rose 0.8 percent. The Dow Jones industrial average rose 0.1 percent and the tech-heavy Nasdaq composite index rose 1.4 percent.

The market was also boosted by a sharp rise in Micron. The chip giant, which reported higher-than-expected profit and revenue for the last quarter, surged just over 10 percent.

Micron dragged AI-related companies like Nvidia and Broadcom, both of which lost heavily on Wednesday, down 1.9 percent and 1.2 percent, respectively.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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