U.S. stocks rose on Thursday, with traders looking to recover after the Federal Reserve indicated the possibility of a rate hike this year — a move that sparked a sell-off in equities during the previous session. The S&P 500 and Nasdaq Composite climbed 1% and 1.5%, respectively. The Dow Jones Industrial Average rose by 122 points, or 0.2%. Intel led chip stocks higher, rising 10% after President Donald Trump said the company will partner with Apple on designing chips in the U.S. Fellow semiconductor names such as Nvidia and Micron Technology were also higher by more than 2% and more than 9%, respectively. The iShares Semiconductor ETF (SOXX) jumped more than 6%. Robert Conzo, chief executive officer at The Wealth Alliance, believes there’s “more bullishness around companies working together because of [artificial intelligence] infrastructure and the effects of AI within many, many different competing industries,” he said. “I think Apple-Intel was a little proxy for what you could see happening in the future.” Wall Street sold off Wednesday after the Federal Reserve’s first meeting with Kevin Warsh as chairman raised worries about monetary policy going forward. Policymakers’ “dot plot” revealed that nine out of 18 Fed officials now see interest rates increasing in 2026. Complicating the forecast was Warsh’s decision to abstain from submitting a rate forecast. However, the chairman repeatedly emphasized the goal of achieving “price stability” during the press conference, exhibiting a tone seen as…Read more