Advertisment
The Dow Jones Industrials rose to a record high Thursday, as Wall Street tried to resume its comeback from a steep selloff earlier this month.
The 30-stock index galloped 243.96 points to conclude Thursday at a new record of 41,335.38.
The S&P 500 lopped off 0.18 points to 5,592.
The tech-heavy NASDAQ jettisoned 39.6 points to 17,516.43.
Wall Street’s strong gains come despite a decline in artificial intelligence darling Nvidia, which fell 6% after posting its latest earnings Wednesday afternoon. In its fiscal second quarter, the AI chipmaker exceeded expectations on the top and bottom lines, and issued a rosy current-quarter sales outlook.
Economic data released Thursday lent support to the stock market. Weekly jobless claims fell from the prior week, further easing recession concerns. In addition, second-quarter gross domestic product was revised higher to 3% growth from an initial 2.8% rate.
Prices for the 10-year Treasury inched lower, raising yields to 3.88% from Wednesday’s 3.84%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.43 to $75.95 U.S. a barrel.
Gold prices hiked $17.20 to $2,552.50.
