Wall Street Rebounds on AI Chip Bargain Hunting

New York stocks rebounded Thursday as bargain buying emerged in AI-related tech shares following the previous day's sharp decline, with the Nasdaq Composite rising 1.09% to 24,579.42. The S&P 500 gained 0.31% to 7,376.86, while the Dow Jones Industrial Average fell 0.46% to 51,285.73. The Philadelphia Semiconductor Index surged 4.2%, led by AMD (11.04%), Micron (5.12%), and Nvidia (2.78%), after Democratic election wins fueled regulatory concerns. Despite the rebound, analysts warn it may be temporary due to short covering, with both Nasdaq and S&P 500 down for a fourth straight week. Strong October jobs data raised December rate hike odds to 75%, while the 10-year Treasury yield closed at 4.86%.