A little less panic, a lot more green
U.S. stocks finished higher Thursday after Treasury yields eased and crude oil slipped, which is basically the market’s version of someone finally turning down the volume in a loud room. The Nasdaq ripped more than 400 points intraday, and the tech-heavy XLK led the charge as investors rotated back into growth names.
Chips got the memo
Semiconductors bounced hard after Monday’s AI-safety-driven selloff, with AMD up more than 6% and Intel jumping around 8%. That’s not a company-specific victory lap so much as a reminder that chip stocks can go from “why is everything on fire?” to “never mind, we’re back” in a hurry.
The Fed and jobs data helped the mood
The Federal Reserve had just raised rates by 25 basis points to 3.75%-4.00%, its first hike since 2023, but softer Treasury yields blunted some of the sting. Meanwhile, initial jobless claims fell to 196,000 — better than expected — and Philly Fed manufacturing came in at 37.8, also ahead of estimates.
Why you should care
The CNN Fear & Greed Index improved to 29 from 27, but it’s still stuck in the “Fear” zone. Translation: investors are breathing a little easier, but nobody’s exactly booking a beach vacation. For tech and semiconductor holders, this kind of backdrop can matter a lot, because when rates cool off and sentiment stabilizes, growth stocks tend to catch a bid.
Big picture: this was a macro-fueled bounce, not a clean victory parade. But in a market like this, even a little less fear can feel like a lot.