Dow claims record closing high, S&P 500 advances; chip selloff weighs on Nasdaq
Broadcom fell more than 12% after missing revenue estimates, dragging semiconductor shares lower even as healthcare and financial stocks helped lift the Dow.
- The Dow Jones Industrial Average surged 1.73% to a record closing high of 51,561.93 on Thursday, while the Nasdaq Composite slipped 0.09% as technology shares lagged behind broader market gains.
- Broadcom missed revenue expectations, sending its shares tumbling 12.6% and triggering a broader semiconductor selloff that weighed on the tech-heavy Nasdaq.
- Healthcare and financial stocks led market gains, with UnitedHealth jumping 5.2% after a rating upgrade, while the New York Stock Exchange recorded 308 new highs.
- Progress toward ending the Iran war buoyed investor sentiment Thursday, as the U.S. House of Representatives passed a measure to block President Donald Trump from continuing the conflict.
- Crude futures fell on hopes tanker traffic through the Strait of Hormuz could resume, even as Challenger, Gray and Christmas reported U.S. corporate layoffs jumped 11% to 97,006 in May.
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The US market continued its upward trend, with investors taking advantage of corrections, while the de-escalation in the Middle East and the resilient economy strengthened the mood - Defensive stocks offset pressures in the technology sector
Dow claims record closing high, S&P 500 advances | Honolulu Star-Advertiser
NEW YORK >> Wall Street advanced today as progress toward ending the Iran war buoyed investor sentiment, while disappointing results from Broadcom led a chip selloff that pulled the Nasdaq lower.
New York Stock Market Closes Mixed; Dow Hits All-Time High, Nasdaq Stags on Broadcom Shock. The three major stock indices in the New York stock market closed mixed. While the semiconductor sector showed weakness, the financial and healthcare sectors showed strength, causing the Dow Jones Industrial Average to set a new all-time high. On the 4th (local time), New York Stock Exchange
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Dow Jumps 875 Points To Record Close As Iran War Optimism Lifts Markets Despite Chip Selloff
Wall Street rose Thursday as hopes for progress toward ending the Iran war boosted the Dow to a record closing high, while Broadcom’s disappointing results ... The post Dow Jumps 875 Points To Record Close As Iran War Optimism Lifts Markets Despite Chip Selloff first appeared on [your]NEWS.
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