Yahoo Finance
US stocks diverged on Thursday amid fresh doubts about President Trump's ability to end the war with Iran and a potential shake-up to the booming AI trade.
The Dow Jones Industrial Average (^DJI) rose over 1%, or more than 500 points.
The benchmark S&P 500 (^GSPC) fell roughly 0.2%, while futures attached to the tech-heavy Nasdaq 100(NQ=F)tumbled around 1%.
Broadcom (AVGO) shares sankafter its AI chip forecast disappointed, raising questions about the strength of the broadly booming AI trade.
Meanwhile, on Wednesday evening, followingthe most serious escalationbetween the US and Iran since the April ceasefire took effect, the House of Representativesvotedto end the war in a rebuke to Trump.
Earlier in the day, stocksretreatedfrom records, and oil rose as hopes for a quick Iran deal faded.
Elsewhere, SpaceXconfirmedin a new filing that it plans a record-breaking $75 billion IPO, and Broadcom (AVGO)earningsdisappointed investors on projected AI chip sales.
On Thursday, ahead of Friday's May jobs report, Wall Street digests two additional readings on the labor market: weekly jobless claims from the Bureau of Labor Statistics and layoff data from outplacement firm Challenger, Gray & Christmas.
Finally, earnings season continues to wrap up with Ciena Corporation (CIEN), Lululemon Athletica (LULU), and DocuSign (DOCU) set to report their results on Thursday.
Stocks were mixed on Thursday as Broadcom (AVGO) dragged tech stocks lower, putting a dent in the AI trade.
The Dow Jones Industrial Average (^DJI) led the major indexes, rising 1%, or 500 points.
The S&P 500 (^GSPC) fell 0.1%, and the tech-heavy Nasdaq Composite (^IXIC) dropped 0.7%.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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