U.S. stocks close higher as chip, financial stocks rally
NEW YORK, Jan 15 — U.S. stocks ended higher on Thursday, snapping a two-day losing streak as a surge in semiconductor and financial shares bolstered investor confidence.
The Dow Jones Industrial Average rose 0.56 percent to 37,468.61.
The S&P 500 gained 0.88 percent to 4,780.94.
The Nasdaq Composite increased 1.35 percent to 15,055.65.
Semiconductor stocks led the gains, with the Philadelphia Semiconductor Index jumping 3.5 percent.
Financial stocks also performed strongly, with the S&P 500 financials sector up 1.2 percent.
The rally followed two consecutive days of losses in the major indices.
Market analysts attributed the rebound to renewed optimism about corporate earnings and economic growth.
Investors are now looking ahead to upcoming earnings reports and economic data releases.