Chip stocks rise as investors shrug off rate-hike hopes after jobs data
Stocks including FormFactor, Entegris, Penguin Solutions, Teradyne and Marvell Technology traded up in the afternoon session after investors scaled back rate-hike expectations following the August jobs report and unwound defensive positions in chip designers,
What Happened? A number of stocks jumped in the afternoon session after investors shrugged off interest rate hike expectations following the August jobs report and unwound defensive positioning in beaten-down chip designers, The U.S.
Bureau of Labor Statistics reported that…