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, Bloomberg reported.
A number of stocks rose in the afternoon session as investors looked past expectations for interest rate hikes after the August jobs report, according to Bloomberg. The move also reflected investors unwinding defensive positioning in beaten-down chip designers. The U.S. Bureau of Labor Statistics reported that…