[New York Stock Market] Rebounds for First Time in Four Sessions as Oil Prices and Treasury Yields Fall; Semiconductor Stocks Surge

[Financial News]  

The New York stock market successfully rebounded on the 17th, marking its first gain in four sessions. It shook off the shock of the Federal Reserve's rate hike in just one day. Investor sentiment recovered as international oil prices and U.S. Treasury yields declined.
Semiconductor stocks led the gains, with the leveraged exchange-traded fund (ETF) Direxion Daily Semiconductor Bull 3X Shares (SOXL), which tracks the daily performance of 30 major semiconductor stocks at three times the rate, surging 10.4%.

The market shook off the sell-off triggered by the Fed's rate hike in just one day.
The Dow Jones Industrial Average rose 317.95 points, or 0.62%, from the previous session to close at 51,779.85.
The tech-heavy Standard & Poor's 500 Index (S&P 500) and Nasdaq each climbed more than 1%.
The S&P 500 rose 85.95 points, or 1.14%, to 7,637.76, while the Nasdaq surged 439.87 points, or 1.69%, to 26,418.30.
The Nasdaq-100, composed of 100 large technology stocks, gained 501.92 points, or 1.73%, to close at 29,446.98. ProShares UltraPro QQQ (TQQQ), an ETF that tracks three times the index's daily movement, jumped $3.45, or 5.08%, to $71.38.
The Chicago Board Options Exchange (Cboe) Volatility Index (VIX), known as Wall Street's fear gauge, plunged 2.20 points, or 12.43%, to 15.51.

Semiconductor stocks led the market's advance.
The gains came as concerns that the artificial intelligence (AI) investment boom could lose momentum eased after NVIDIA CEO Jensen Huang offered an optimistic view that chip sales would double next year.
NVIDIA rose $5.44, or 2.54%, to $219.34, while Micron Technology climbed $50.95, or 5.50%, to $977.50.
SanDisk surged $94.42, or 6.21%, to $1,614.39, and SK hynix's American depositary receipts (ADRs) gained $8.12, or 4.64%, to $182.99.
The Philadelphia Semiconductor Index (SOX) jumped 353.38 points, or 3.14%, to 11,599.49.
The Direxion Daily Semiconductor Bull 3X Shares (SOXL) surged $10.76, or 10.35%, to $114.73.

Big tech stocks also rose across the board.
Alphabet rebounded, gaining $4.46, or 1.30%, to close at $347.33. Apple continued its upward trend, rising $4.59, or 1.38%, to finish at $337.00.
Palantir Technologies rose $1.90, or 1.09%, to $176.24, while Microsoft gained $7.45, or 1.52%, to close at $497.75.
Elon Musk's Tesla and SpaceX also advanced together.
Tesla rose $8.12, or 2.27%, to $366.20, while SpaceX gained $3.93, or 2.60%, to close at $154.81.
[email protected] Song Kyung-jae Reporter