The semiconductor space has been an important driver for the stock market, helped especially by Nvidia Corp.’s dramatic sales growth — the company’s most recent quarterly revenue was 4.5 times as high as it was two years earlier.

Stocks were rising sharply Thursday after the Federal Reserve reduced interest rates by a half point, an aggressive move and the central bank’s first cut since 2020.These stocks were making moves Thursday:Enphase Energy rose 0.