U.S. stocks rose as Apple and technology stocks climbed

                                                                                    INQUIRY

      On Wednesday, the Federal Reserve surprised investors by issuing a more pigeonholed policy statement than expected, saying it expects no further interest rate hikes this year in view of signs of a slowdown in the U.S. economy.
But the optimistic economic data released on Thursday eased concerns about the Fed's economic warning signals. New claims for unemployment benefits fell more than expected last week, with manufacturing activity rebounding strongly in the central Atlantic coast in March.
Apple (AAPL.O) LED technology stocks, surging 3.7% ahead of the expected launch of streaming services next week.
"The reason behind today's market trend is Apple's weight in the Dow, the absence of bad news, and the market's reaction to the dove tone of the Federal Reserve," said Matthew Keator, executive partner of Keator Group.
But Keator wanted to remind investors that just a few months ago, the Fed was more hawkish. "The market may need to be more cautious not to over-interpret the Fed's dovish stance, because it is likely to change."
Chipmakers also helped boost technology stocks, after Metro MU.N predicted a recovery in the memory market and reported better-than-expected quarterly earnings. The stock surged 9.8%.


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