Following a dreadful 2018, chipmakers are hot again on encouraging trade talks and a rebound in China's manufacturing activity. Adding to the optimism is industry rationalization and slew of new technological trends like Internet of Things, high-end gaming and 5G wireless. At the same time, reports of smartphone market recovery are taking chip stocks higher.
U.S. stocks rose and the Dow (^DJI) shook off earlier declines after a drop in shares of aerospace giant Boeing (BA) weighed on the index. Stronger-than-expected retail sales figures for January helped buoy confidence among market participants.