Nasdaq Opens 1.5% Higher as Wall Street Tries to Rebound from Fed-Led Sell-off; Intel Leads Chips Higher

U.S. stocks rose on Thursday, with traders looking to recover after the Federal Reserve indicated the possibility of a rate hike this year — sparking a sell-off in equities during the previous session.

Intel led chip stocks higher, rising 9% after President Donald Trump said the company will partner with Apple on designing chips in the U.S. Fellow semiconductor names such as Nvidia and Micron Technology were also higher by more than 1% and more than 4%, respectively. The iShares Semiconductor ETF jumped more than 4%.