US Stocks Start Q4 on a Positive Footing
US stocks were higher on Thursday, with the S&P 500 up 0.2%, the Nasdaq gaining 0.5% and the Dow Jones rising by nearly 80 points as investors kicked off Q4 following a volatile third quarter. The AI boom continued to support the broader market despite higher Treasury yields and a renewed rise in oil prices. Communication services was the top performing sector and tech also gained while materials tumbled. Alphabet rose 1.7% after beginning to roll out its latest AI model. Chipmakers also provided additional support following an upbeat forecast from Micron, whose shares were up 0.2%. Among other megacap technology stocks, Nvidia (0.8%), Microsoft (1.1%), Amazon (0.7%), Broadcom (0.5%), Meta (0.5%) and Tesla (0.5%) were higher, while Apple fell 0.7%. Nike shares went up 1.1% ahead of the company’s earnings report, due after the opening bell. On the downside, Eli Lilly (-0.9%), Exxonmobil (-0.4%) and Bank of America (-0.6%) were lower.
5% and the Dow Jones rising by nearly 80 points as investors kicked off Q4 following a volatile third quarter. The AI boom continued to support the broader market despite higher Treasury yields and a renewed rise in oil prices. Communication services was the top performing sector and tech also gained while materials tumbled. 7% after beginning to roll out its latest AI model.
2%. 7%. 1% ahead of the company’s earnings report, due after the opening bell. 6%) were lower.