Wall Street rebounds as chip
Photo: Seth Wenig /AP/TT

Wall Street rebounds as chip stocks lead gains

The New York stock market turned higher on Tuesday, led by AI stocks.

The broad S&P 500 index closed up 0.9 percent, while the Dow Jones industrial average rose 0.7 percent. The tech-heavy Nasdaq Composite index ended the trading day up 1.3 percent.

The big winners were AI-related companies. Micron Technology rose 12.2 percent, Intel rose 8.6 percent and Broadcom rose 2.2 percent. Nvidia rose 2 percent.

Car manufacturer General Motors (GM) - with brands such as Chevrolet and Cadillac - raised its full-year profit forecast by approximately SEK 4.8 billion in its interim report. The stock rose 4.9 percent.

Industrial conglomerate 3M rose 7.1 percent after an interim report that exceeded analysts' expectations.

A barrel of North Sea oil (Brent) cost just over $91 at 10 p.m. Swedish time.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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