Dow jumps 900 points as oil prices ease, but slumping AI stocks keep Wall Street in check
U.S. stocks experienced mixed results as the Dow Jones Industrial Average rose significantly while the S&P 500 and Nasdaq faced declines. The increase in the Dow was attributed to a drop in oil prices, which eased inflation concerns. However, slumping AI stocks, including Broadcom and Micron Technology, weighed on overall market performance despite some companies reporting strong profits.
- ▪The Dow Jones Industrial Average rose by 925 points, or 1.8 percent, while the S&P 500 added 0.3 percent.
- ▪Oil prices dropped by 2.8 percent to $95.10 per barrel, contributing to the rise in stocks.
- ▪Several AI stocks, including Broadcom and Micron Technology, saw significant declines despite reporting strong earnings.
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Traders work on the floor of the New York Stock Exchange during morning trading, Thursday, in New York City. Stocks opened mixed, with the S&P 500 and Nasdaq falling while the Dow Jones Industrial Average rose more than 500 points after dropping 600 points at the previous day's close. Getty Images via AFP-YonhapNEW YORK — Most U.S. stocks are rising Thursday as oil prices ease, but slumps for influential artificial-intelligence winners are keeping Wall Street in check.The S&P 500 added 0.3 percent a day after dropping from its all-time high and coming just short of its longest winning streak in three decades. The Dow Jones Industrial Average was up 925 points, or 1.8 percent, as of 12:34 p.m.
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