U.S. stock indexes, Apple rise as tech sector erases early losses

U.S. stocks moved higher on Thursday as tech stocks like Apple, Nvidia, and others erased early losses to turn green.

Barbara Kollmeyer for MarketWatch:

U.S. stock indexes were set to build on Wednesday’s gains as the minutes from the Fed’s latest meeting signaled that the central bank remained on track for 50 basis-point hikes in June and July, as policy moves “expeditiously” toward the projected neutral rate of interest.
According to several analysts, this outlook would give the Fed more wiggle room to reassess its planned rate hikes later this year, should economic growth sputter or the labor market start to falter…
Shares of Twitter Inc. surged after Tesla CEO Elon Musk said in a regulatory filing that he would lean on equity to finance his $44 billion Twitter deal, and not a margin loan backed by shares of his electric-car maker.
Shares of Apple Inc. turned higher, erasing losses from the premarket session, after a report said the iPhone maker plans to keep production of its flagship item flat this year due to industry challenges.
Separately, Apple said it would lift hourly pay for U.S. workers to $22 an hour, up 45% from 2018, to compete in a tight labor market and amid pushes by some employees to unionize.

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