Wall Street up, driven by the chip sector

NEW YORK STOCK EXCHANGE ENDS UP by Caroline Valetkevitch NEW YORK (Reuters) – The New York Stock Exchange ended higher on Thursday, taking advantage of gains by chipmakers and high-growth stocks to rebound again, on the sidelines of the decline in oil prices, after a volatile start to the year against a backdrop of the Ukrainian crisis and fears of rising inflation. The Dow Jones Industrial Average gained 1.02%, or 349.44 points, to 34,707.94 points. The broader S&P-500 gained 63.92 points, or 1.43%, to 4,520.16 points. The Nasdaq Composite advanced for its part by 269.24 points (1.93%) to 14,191.84 points. This is the sixth session in the green in eight days for the main indices of Wall Street, while the S&P-500 and the Dow Jones had entered a correction earlier this year. Nvidia and Intel, which jumped 9.8% and 6.9% respectively, were among the main catalysts for the S&P-500 and the Nasdaq, while Apple ended in the green for an eighth consecutive session after significant setbacks this month. Data released during the day show that the number of weekly jobless claims in the United States has fallen to its lowest level in more than fifty years. “Overall today there is a greater sense of a return to normal. But that could change, it’s just the mood of the day,” commented Alan Lancz, president of Alan B. Lancz & Associates Inc, investment advisory firm based in Toledo, Ohio. Investors continued to watch the latest developments in the conflict between Russia and Ukraine, as NATO and G7 meetings were held in Brussels. Westerners have agreed to step up their military aid to Ukraine and to step up sanctions against Russia. Uber Technologies rose 5% after announcing an agreement to bring together all New York City taxis on its app. (French version Jean Terzian)