U.S. stocks close higher as Treasury yields fall and rally broadens beyond tech

  • U.S. stocks rose Thursday as investors rotated from major technology shares into other parts of the market.
  • The Dow gained about 1.1%; the S&P 500 rose roughly 0.3% and the Nasdaq Composite about 0.1%.
  • Travelers and Citizens Financial earnings were due before Friday’s market open.

U.S. stocks ended Thursday higher, with the Dow Jones Industrial Average gaining more than 500 points, or about 1.1%, while the S&P 500 rose roughly 0.3% and the Nasdaq Composite edged up about 0.1%. The S&P 500 and Nasdaq snapped three-session losing streaks as investors rotated out of major technology names and into other parts of the market. In early trading Friday, S&P 500 futures were just above flat, Nasdaq-100 futures were down 0.1% and Dow futures were up 31 points, or about 0.1%. Despite Thursday’s rebound, the S&P 500 was down nearly 1% and the Nasdaq more than 2% for the week, while the Dow was on track to gain about 1%. AI-related stocks, particularly memory-chip companies, faced pressure amid concerns about competition from China and borrowing for AI infrastructure. Micron Technology was headed for a weekly decline of more than 9%, while CoreWeave was on track to lose 15%. Inflation also remained in focus: wholesale inflation posted its biggest gain since 2022, consumer inflation remained well above the Federal Reserve’s 2% target, and elevated energy prices followed the U.S.-Iran war. Investors were looking ahead to earnings from Travelers and Citizens Financial due before Friday’s market open.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.