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Stock Market Today: Microsoft Ignites Chip Rebound as SanDisk Jumps 24%

Reviewed by ClearTape · Source: Benzinga

Key takeaways

  • The US stock market saw a rebound on Thursday, led by a 24% jump in SanDisk Corp. after a deal with Intercontinental Exchange Inc. and strong earnings from several companies.
  • The deal between MarketAxess Holdings Inc. (MKTX) and Intercontinental Exchange Inc. (ICE) is worth $5.7 billion and represents a 33% premium.
  • The Vanguard S&P 500 ETF (VOO) gained 1.2% on Thursday.
  • The Dow Jones Industrial Average advanced 424 points, or 0.8%, to 52,019.

What happened

The US stock market saw a rebound on Thursday, led by a 24% jump in SanDisk Corp. after a deal with Intercontinental Exchange Inc. and strong earnings from several companies.

Why it matters

The rebound in the stock market was driven by a combination of factors, including a deal between MarketAxess Holdings Inc. and Intercontinental Exchange Inc. and strong earnings from companies such as Corcept Therapeutics Incorporated, FormFactor, Inc., and Bloom Energy Corporation.

Short-term and longer-term

Short-term. The rebound in the stock market is likely to have a positive impact on investor sentiment and could lead to further gains in the coming days.

Longer-term. The rebound in the stock market is likely to have a positive impact on investor sentiment and could lead to further gains in the coming days.

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