Tech and chip stocks boosted the Nasdaq
The Dow rose in the last hour of trading to score a 115-point gain on Thursday, while the Nasdaq and S&P 500 notched solid gains of their own as chip and tech stocks rallied, with the latter seeing its highest close since August. Walmart's (WMT) strong financial results and U.S. debt ceiling talks were in focus, with House Speaker Kevin McCarthy noting a vote could happen next week. Meanwhile, Treasury yields rose after Dallas Federal Reserve President Lorie Logan spoke against pausing interest rate hikes.
Continue reading for more on today's market, including:
- Foot Locker stock sees pre-earnings options surge.
- Subscribers buying into Netflix's ad-supported version.
- Plus, fresh highs for NVDA; semiconductor name investing in Japan; and why Nike stock could rally.
Things to Know Today
- Walt Disney (DIS) abandoned plans for a new campus in Florida amid an ongoing feud with Governor Ron DeSantis, citing “changing business conditions.” (CNBC)
- California’s reparations task force approved recommendations for repair and restitution for harms experienced by African Americans as a result of slavery. (MarketWatch)
- Bull notes pushed Nvidia stock to a fresh high today.
- This chip stock surged on a billion-dollar investment.
- Nike stock could get support from this bullish trendline.
Gold, Oil Prices Fall Amid Debt Ceiling Talks
Oil prices settled lower on Thursday, with traders taking on a more cautious stance as they continued to monitor U.S. debt ceiling talks. June-dated crude fell 97 cents, or 1.3%, to close at $71.86 per barrel.
Gold prices also finished lower, marking their third consecutive session in the red as the U.S. dollar continued to gather strength. June-dated gold shed $25.10, or 1.3%, to close at $1,959.80 an ounce.