Wall Street's rise was supported by the chip sector and optimism regarding Iran.
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June 18 (Reuters) - U.S. stock indexes closed higher on Thursday, boosted by strong gains in semiconductor stocks and easing inflation concerns, although investors still expect the Federal Reserve to raise interest rates this year.
The Philadelphia Semiconductor Index sharply outperformed the rest of the market, with Intel shares jumping to a record high.
US President Donald Trump said that Apple, the maker of iPhones, has agreed to cooperate with Intel to design and manufacture its chips in the United States.
According to preliminary data, the S&P 500 rose 78.31 points, or 1.06 percent, to close at 7498.41 , while the Nasdaq Composite climbed 496.28 points, or 1.87 percent, to 26507.05. The Dow Jones Industrial Average gained 70.29 points, or 0.14 percent, to 51562.84 .