US: Wall Street rises as chipmakers rally, Fed bolsters rate cut bets

THE tech-laden Nasdaq led Wall Street higher on Thursday (Mar 21) as chip stocks rallied following Micron Technology’s upbeat forecast, while investors took comfort in the Federal Reserve sticking to its three-rate-cut view for this year.

The Dow Jones Industrial Average rose 148.90 points, or 0.38 per cent, at the open to 39,661.03.

The S&P 500 opened higher by 28.81 points, or 0.55 per cent, at 5,253.43, while the Nasdaq Composite gained 147.83 points, or 0.90 per cent, to 16,517.24 at the opening bell. REUTERS