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US stocks bounce back as Microsoft and chip companies lead the way
['Associated Press']
WWAYTV3WWAYTV3
US stocks bounce back as Microsoft and chip companies lead the way?
computer chipsNEW YORK (AP) — U.S. stocks are bouncing back after Microsoft leaped on its latest profit report and computer-chip companies clawed back some of their big recent losses.
The Nasdaq composite, which is full of tech stocks, rose 1.6% a day after it fell 9.8% below its record set last month.
Wall Street was poised for a rebound Thursday and oil prices fell modestly even as the U.S. said it had conducted a “heavy wave” of strikes against Iran.
In Tokyo, the Nikkei 225 gained 0.7% to 61,867.43, recovering some of its losses after falling 1.5% a day earlier.