The Dow Jones Industrial Average jumped 875 points on Thursday to finish at a record high, while the S&P 500 added 0.4%. The Nasdaq lagged, slipping 0.1% as investors rotated out of technology and into other sectors. Health care, financials, communication services, and real estate led the advance.
Among the standout gainers were JPMorgan Chase (+3.3%), Visa (+2.5%), Johnson & Johnson (+4.6%), UnitedHealth Group (+5.2%), and Goldman Sachs (+4.9%). By contrast, technology shares were the session’s weakest segment. Broadcom tumbled 12.6% after its forecast for AI-chip revenue came in below most expectations. Advanced Micro Devices and Micron Technology also retreated, down 3.6% and 7.7%, respectively.
At the same time, investors kept a close eye on geopolitical developments in the Middle East. Reports of a conditional ceasefire between Israel and Lebanon lifted hopes that a broader agreement involving Iran might follow, helping to push oil prices lower.