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The Dow Jumps 800 Points as Oil Prices Ease, but Slumping AI Stocks Keep Wall Street in Check
Broadcom and other AI favorites fell even after strong earnings as Brent crude dropped 2.7%, helping lift most U.S. stocks, analysts said.
- On Thursday, The Dow Jones Industrial Average climbed 841 points, or 1.7%, as falling oil prices bolstered investor sentiment and most stocks rose.
- The S&P 500 ended a nine-day winning streak on Wednesday, marking a shift after strong profit reports from U.S. companies fueled earlier gains.
- Broadcom sank 14.5% despite surpassing profit expectations, even as CEO Hock Tan reported AI semiconductor revenue reached $10.8 billion with forecasted 200% growth.
- Outside of tech, PVH Corp. tumbled 22.3% as CEO Stefan Larsson warned of "the prolonged effects of the Middle East conflict, which is putting pressure on" customers in the region.
- Analysts suggest AI stocks may have run too high and become expensive, while high yields have forced average U.S. mortgage rates to their most expensive level in nine months.
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72 Articles
72 Articles
No tech, no problem. Dow makes record and traders think these stocks can lead now
Traders bought about 5,300 calls in the State Street Health Care Select Sector SPDR ETF (XLV) on Thursday, compared to just over 1,000 puts, according to data from ThinkOrSwim.
·Englewood Cliffs, United States
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Channel News AsiaReposted by 
ARY News
ARY NewsOil drops, stocks mostly higher despite AI concerns
NEW YORK: Oil prices and the dollar retreated on Thursday (Jun 4) as traders tracked conflicting developments in the Middle East war, while equity markets mostly rose despite a disappointing outlook from US chipmaker Broadcom
·Singapore, Singapore
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Hastings TribuneReposted by 
WDEF
WDEFThe Dow jumps 875 points as oil prices ease and stocks outside of AI rally
Wall Street rallied after falling oil prices and yields in the bond market eased the pressure on U.S. stocks. The S&P 500 rose 0.4% Thursday for its 10th gain in the last 11 days, a day after dropping from its…
·Nebraska, United States
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Coverage Details
Total News Sources72
Leaning Left20Leaning Right8Center27Last UpdatedBias Distribution49% Center
Bias Distribution
- 49% of the sources are Center
49% Center
L 36%
C 49%
15%
Factuality
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