The Nasdaq 100 slipped while the Dow Jones rallied more than 800 points on defensive and financial leadership, leaving the S&P 500 slightly above the flatline by midday.
On the Middle East front, hopes that an Israel-Lebanon ceasefire could clear the path to a broader Iran deal pulled crude lower. West Texas Intermediate crude fell about 3.3% to roughly $92.87 a barrel, while Brent slid 2.8% to near $95.06. The retreat in energy prices offered relief to Treasuries even as traders kept one eye on Friday’s May payrolls report.
The S&P 500 added 0.2% to 7,568.56, while the Dow Jones Industrial Average advanced 863 points, or 1.7%, to 51,550.63.
The Nasdaq 100 fell 0.7% to 30,355.45, weighed down by the chip complex.
Broadcom Inc. cratered nearly 15% despite topping estimates with adjusted earnings of $2.44 per share, as its AI-chip revenue outlook fell short of the market’s lofty expectations.
Gold drew safe-haven and weaker-dollar support, rising 1.0% to about $4,477 an ounce.
Bitcoin (CRYPTO: BTC) fell for the fifth straight session, down by 0.6%. The biggest cryptocurrency hit an intraday low at $61,310, marking the lowest levels since February 6, 2026.
Thursday’s Performance In Major US Indices
According to the Benzinga Pro platform:
Chip Stocks Stumble, While Defensives Shine
Micron Technology Inc. (NASDAQ:MU) slumped over 6% – the company’s worst session since late March.
Thursday’s Russell 1000 Top Gainers
Thursday’s Russell 1000 Top Losers
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