Stock Market Holds Gains, As Chips Offer Some Rare Help [Investor's Business Daily]
UBIQUITI NETWORKS (UBNT)
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Source: Investors Business Daily
Related news Stocks gripped sizable gains late Thursday morning, as Canadian trade talks turned silent but China and the U.S. were poised for a new round of negotiations. Meanwhile, Hurricane Florence started to hit the North Carolina coast. The Nasdaq swaggered 0.9% higher, while the Dow Jones industrial average and the large cap S&P 500 added 0.5% each. Small caps trailed as the Russell 2000 lost 0.1%. Volume was running lower on both major exchanges vs. the same time in the previous session. The Nasdaq retook and was fighting to hold above the 8000 level. Chip stocks contributed unevenly to the Nasdaq's rebound as chipmakers, chip equipment makers and chip designers rose 1.7%, 1% and 0.3%, respectively. Semiconductors haven't held a sector leadership role in the stock market since mid-November. Going into Thursday's session, chips were No. 27 among 33 sectors. On Wednesday, chips accounted for seven new lows, the most among all sectors. In the IBD 50 , a proxy for top stocks, telec
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