Wall Street Gains as Tech Sector Shows Strength

On Thursday, Wall Street witnessed a significant uplift, primarily driven by the robust performance of tech stocks. Giants in the technology sector, including Nvidia, Meta, Amazon, Tesla, and Microsoft, each saw their shares climb by approximately 2%. The semiconductor industry also experienced notable gains, with Microchip Technology Inc. and ON Semiconductor leading the charge, surging by 10.48% and 7.67% respectively.

Trade War Developments Keep Investors on Edge

Amid the market's upward trajectory, attention remained sharply focused on the evolving dynamics of international trade relations. Chinese officials clarified that no trade negotiations are currently in progress with the United States. Guo Jiakun, a representative from the Ministry of Commerce, refuted claims of advancements in bilateral discussions and called for the elimination of what he described as "unilateral" trade barriers.

Market Indices and Currency Movements

The Dow Jones Industrial Average rose by 0.73%, adding 290 points by 10:42 am ET. The Nasdaq 100 and the S&P 500 also posted gains, increasing by 1.85% and 1.32% respectively. In currency markets, the euro appreciated by 0.59% against the dollar, trading at $1.13788 at 10:43 am ET.