"After the hawkish pause of the Fed earlier in the month, one would have expected market exuberance to stall, but that doesn’t seem to be the case"

(Bloomberg) -- US stocks edged higher as dip buyers stepped in after a tumultuous week for chipmakers. Oil prices tumbled with more ships crossing through the Strait of Hormuz.

The Dow, S&P 500, and Nasdaq surrendered morning gains in late trading as semiconductor weakness and AI cost concerns dragged markets lower.

"After the hawkish pause of the Fed earlier in the month, one would have expected market exuberance to stall, but that doesn’t seem to be the case"

Analysts said investors were "rotating back into tech".