LIVE MARKETS-Nasdaq leading the pack with help from chip heavyweights
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NASDAQ LEADING WALL STREET WITH HELP FROM CHIP HEAVYWEIGHTS
On Wall Street, tech-heavy Nasdaq .IXIC was up 1.2%, gaining faster than the S&P 500 .SPX and the Dow .DJI, with Nvidia NVDA.O and Intel INTC.O doing most of the heavy lifting.
And on the day after the Federal Reserve cut interest rates and indicated that there would be more cuts to come, rate-sensitive small caps were outperforming with the Russell 2000 index .RUT up 1.6%, although it was lower than its Wednesday intraday peak. Though very early in the session, if it finished at these levels it would be a record closing high.
While Nvidia's announcement of an investment in Intel boosted those stocks and helped push the Philadelphia semiconductor index .SOX up more almost 3.9%, it appeared to put pressure on rival Advanced Micro Devices AMD.O, which was among the biggest drags on the S&P 500 on the day.
In contrast to last week's data, the Labor Department said on Thursday that the number of Americans filing new applications for unemployment benefits fell by 33,000 to a seasonally adjusted 231,000 for the week ended September 13 compared with economist expectations for 240,000. The decline partially reversed a surge in the prior week, which had pushed claims to levels last seen in October 2021.
Among the benchmark's 11 major industry sectors 6 were showing gains with technology .SPLRCT leading the pack while consumer staples .SPLRCS was falling most.
Here is your morning snapshot from 10:26 a.m ET/ 1426 GMT:
(Sinéad Carew)
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EARLIER ON LIVE MARKETS:
NVIDIA SET TO GIVE INTEL ITS BIGGEST LIFT IN DECADES CLICK HERE
IN FREE FALL: TARIFFS DENT SWISS WATCH EXPORTS CLICK HERE
EUROPE BUOYED BY FED RATE CUT CLICK HERE
EUROPE BEFORE THE BELL: FUTURES HIGHER AFTER FED RATE CUT CLICK HERE
THERE ARE FED WEEKS WHERE DECADES HAPPEN CLICK HERE
Nasdaq leads Wall Street gains 
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