A rebound in U.S. chip shares outpaced broader equity benchmarks Friday morning, with the Philadelphia Semiconductor Index up 6.8% as the Nasdaq and S&P 500 also advanced.
The Nasdaq gained 2%, and the S&P 500 rose 1.1%. The semiconductor index’s move exceeded their gains by 4.8 percentage points and 5.7 percentage points, respectively.
AMD climbed 13% after falling 13.53% Thursday. The index had slid 11.48% in the previous semiconductor selloff, leaving Friday’s rebound short of reversing that decline.
