Investors in the United States saw a broad market bounce on Thursday, driven primarily by strong performance in large‑cap technology and communication‑services stocks. The S&P 500 rose 1.1%, the Dow Jones Industrial Average added 631 points (1.2%), and the Nasdaq Composite climbed 1.5% as of 1:53 p.m. Eastern time. The gains marked the first uptick after three consecutive days of declines.
Tech leaders lead the charge
Microsoft posted a 2.8% increase, Apple rose 0.7%, and Meta surged 3.6%, helping to set the tone for the broader market. Chip giant Nvidia, whose high‑performance processors are central to artificial‑intelligence applications, advanced 2.2% after announcing a $13 billion acquisition of the AI platform Hugging Face.
Oil prices climb amid intensified U.S.–Iran fighting
Even as equities rallied, oil prices continued their upward trajectory. Iran fired on Kuwait in retaliation for recent U.S. airstrikes, and the United States struck Iranian rocket launchers on an island in the Strait of Hormuz, accusing Tehran of planning to mine the waterway. Brent crude slipped 0.1% to $95.55 a barrel after an early rise, while U.S. benchmark crude edged up 0.5% to $91.51.
Bond yields show signs of stabilization
Yield pressures eased modestly, offering some relief to mortgage‑rate concerns. The 10‑year Treasury yield fell to 4.76% from 4.79% the day before, after having risen steadily throughout the year and reaching a low of 4.20% in early 2026. The 2‑year Treasury, a proxy for Federal Reserve policy expectations, slipped to 4.33% from 4.39%.
Company earnings highlight AI demand
Snowflake impressed investors with a 20.4% jump after reporting quarterly profit and revenue that beat analysts’ estimates, citing continued strength in artificial‑intelligence demand. Broadcom’s results also beat expectations, and the chipmaker projected that AI‑related chip revenue would double by fiscal year 2028, though its stock fell 3.6% after a revenue outlook missed forecasts. Hewlett Packard Enterprise raised its guidance for cloud and AI demand, yet shares slipped 3.5% amid worries about supply‑chain constraints.
Other market moves
Tyson Foods saw a 7.4% decline after lowering its revenue and operating‑income guidance, blaming margin pressure from volatile cattle prices and a severe cattle shortage. Victoria’s Secret fell 14.5% despite beating earnings estimates, as revenue fell short of expectations.
Economic backdrop
The Labor Department reported a modest rise in unemployment benefit filings, though layoffs remain rare and jobless claims stay near historic lows. The upcoming August employment report on Friday will be closely watched, following a July report that suggested the jobs market had stalled. Inflation remains a central concern, with the Federal Reserve expected to consider another rate hike before year‑end to bring inflation, currently well above the 3% target, closer to the 2% goal. August inflation data are slated for release on September 11, ahead of the Fed’s policy meeting that concludes on September 16.
Original reporting: 2news.com — read the source article.
