Wall Street bounces higher as chip stocks gain

Wall Street bounces higher as chip stocks gain

Shares of Micron Technology rose 8.8 per cent to $US59.37 after analysts at Nomura raised their target for the stock to $US100.

Several big industrial stocks continued to fall.

Shares of companies such as Boeing Co, down 2.9 per cent, and Caterpillar Inc, down 2.4 per cent, have been under pressure as Trump's protectionist stance on steel and aluminium imports could increase costs and hamper sales overseas.

Several other institutional investors and hedge funds have also made changes to their positions in the company. The S&P 500.SPX is just 3 percent below the record highs hit on January 26 and the Dow.DJI is 4.8 percent away from its peak.

King Wealth Management Group LLC lifted its holdings in shares of SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission.

But the half percent fall in the Dow Jones Industrial Average followed a near 2 percent gain for New York's main indexes on Friday after data showed sluggish wage growth in February, easing concerns the Federal Reserve might raise interest rates swiftly. The company has a market cap of $2,460.00 and a price-to-earnings ratio of 10.18.

Championship round-up: Aston Villa slip to shock defeat against QPR
Sheffield United closed the gap on the top six to two points after a 2-0 win over Burton . Hull also grabbed another crucial win and are now nine points above the bottom three.

United States stocks advanced on Monday, with gains in shares of chipmakers and technology giants helping Wall Street extend last week's rally that was powered by USA jobs data.

Boeing and other industrial companies fell Monday, giving back some of the ground they won late last week. The S&P 600 closed at 974.13 for a gain of 3.87 points or 0.40%.

The Dow Jones industrial average climbed 31 points, or 0.1 percent, to 25,202. The Nasdaq composite gained 25 points, or 0.3 percent, to 7,586.

Stocks started the day higher, and bond yields fell, after the government reported that inflation in consumer prices remained muted last month.

Broadcom (AVGO.O) rose 3 percent in premarket trading, following report that Intel (INTC.O) was considering a possible bid for the company.

Johnson Controls was up 1.6 percent after saying it would consider selling a business that makes batteries for vehicles. S&P 500 e-minis ESc1 rose 5 points and Nasdaq 100 e-minis NQc1 gained 27.5 points. The VIX Volatility Index was higher at 15.78 for a gain of 1.14 points or 7.79%.

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