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Tech sector buoyed by chip-stock rally as stocks end mostly higher
Stocks ended mostly higher Thursday, with the tech-heavy Nasdaq leading major indexes thanks to an earnings-inspired rally by semiconductor stocks. The Nasdaq Composite advanced around 48 points, or 0.7%, to close near 7,073, according to preliminary figures, while the S&P 500 rose around 4 points, or 0.1%, to end near 2,642. The Dow Jones Industrial Average ended around 22 points lower near 24,553, a loss of 0.1%. The Nasdaq was lifted as chip-related stocks rallied following a strong round of earnings late Wednesday. The gains saw the PHLX Semiconductor Index jump nearly 6%.