U.S. stocks reached new record highs amidst a mixed trading session influenced by a decline in oil prices, which placed pressure on energy companies. The S&P 500 climbed by 0.4% on Thursday, marking its third consecutive record high for the week. The Dow Jones Industrial Average and the Nasdaq also saw gains, rising by 0.6% each. Micron Technology experienced significant growth, attributed to increased demand in artificial intelligence, leading to a better-than-expected profit report. Additionally, other tech firms saw gains. Conversely, energy giants like Exxon Mobil and ConocoPhillips, along with other energy companies, faced losses due to the dip in crude oil prices.
Here is a breakdown of Thursday’s market performance:
– The S&P 500 increased by 23.11 points, or 0.4%, reaching 5,745.37.
– The Dow Jones Industrial Average rose by 260.36 points, or 0.6%, to 42,175.11.
– The Nasdaq composite surged by 108.09 points, or 0.6%, hitting 18,190.29.
– The Russell 2000 index, which tracks smaller companies, climbed by 12.42 points, or 0.6%, reaching 2,209.87.
For the week so far:
– The S&P 500 has gained 42.82 points, or 0.8%.
– The Dow has risen by 111.75 points, or 0.3%.
– The Nasdaq is up by 241.97 points, or 1.3%.
– The Russell 2000 has seen a decrease of 18.02 points, or 0.8%.
Year-to-date performances are as follows:
– The S&P 500 shows an increase of 975.54 points, marking a growth of 20.5%.
– The Dow has gained 4,485.57 points, translating to an 11.9% increase.
– The Nasdaq has surged by 3,178.94 points, representing a growth of 21.2%.
– The Russell 2000 has climbed by 182.80 points, reflecting a 9% increase overall.
Overall, the stock market continues to perform well with record highs, despite the varying impact of oil prices on specific sectors. Movements in tech stocks and energy companies have notably influenced trading sessions, with investors closely monitoring these developments.