U.S. stocks rose on Wednesday, with the Nasdaq leading the gains by nearly 200 points. Technology stocks and Chinese concept stocks were mostly higher, with AMD rising nearly 10% and Google rising more than 5%.
The market is eagerly awaiting non-farm employment data, while the first unemployment benefit data in the United States last week was in line with expectations. U.S. stocks closed collectively led by technology stocks. The Dow rose more than 60 points and the S&P rose 0.74%; the Nasdaq rose nearly 200 points.
Popular technology stocks generally rose, with semiconductor and chip stocks leading the gains. AMD rose nearly 10%, and Google rose more than 5%. As of the close, the Dow Jones Index rose 62.95 points to 36117.38 points; the S&P 500 Index rose 33.54 points to 4582.88 points; the Nasdaq Composite Index rose 193.28 points to 14339.99 points.
In other financial news, spot gold rose 0.3% to $2,029.92 an ounce, while West Texas Intermediate crude futures for January delivery fell 4 cents to $69.34 a barrel. The Dow Jones Market Data showed that Brent and West Texas Intermediate have fallen for six consecutive sessions, the longest streak of declines for either crude since February.
Most popular Chinese concept stocks rose on Thursday, with the Nasdaq Golden Dragon Index falling 0.1%. Chanson International rose by more than 31%, Zhongjin Medical rose by more than 16%, and Manulife Construction rose by more than 15%.
Additionally, the number of Americans continuing to apply for unemployment benefits fell during the holiday week, with a sharp rise the week before falling. Bank of America quantitative strategists also predicted that the S&P 500 index could rise in 2024 without the help of the “Big Seven” technology stocks.
The yen also posted its biggest gain in nearly a year as traders increased bets on the Bank of Japan exiting its negative interest rate policy, and analysts at Goldman Sachs said the European Central Bank is expected to cut interest rates in April next year as inflation falls faster than expected.