Market Indexes Bounce Back From the Fed's Rate Hike

Key Points The Nasdaq Composite rose 1.4%, the S&P 500 0.9%, and the Dow 0.4% by late Thursday morning. Intel jumped 8.6% after its CEO said capacity and memory shortages limit it to half of CPU demand. The dot plot shows 10 of 18 officials expecting no rate cuts at all through 2029. 10 stocks we like better than Dow Jones Industrial Average › Wednesday's rate hike knocked more than 630 points off the Dow. Thursday morning, Wall Street decided it had overreacted, and chip stocks led the apology tour. The Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 1.4% as of 11:24 a.m. ET, the S&P 500 (SNPINDEX: ^GSPC) added 0.9%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) gained 0.4%. Twenty of the Dow's 30 components traded higher at this moment.