Following a series of economic data releases, the Dow Jones Industrial Average experienced a brief decline of 100 points, while the tech-heavy Nasdaq showed strength on Thursday, buoyed by positive developments for two major chip manufacturers.
Taiwan Semiconductor (TSM), a leading chip giant, saw a surge in morning trading driven by favorable earnings news, while Nvidia stock reached new record highs.
Shortly after the opening bell, the Dow Jones Industrial Average dipped by 0.2%, contrasting with a 0.4% gain in the S&P 500. The Nasdaq composite demonstrated early strength with a 0.9% advance.
Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) registered a 0.9% increase, while the SPDR S&P 500 ETF (SPY) rose by 0.4%, Investors Business Daily reported.
Additionally, oil prices continued to build on Wednesday’s gains, with West Texas Intermediate futures edging higher by approximately 1%, reaching around $73 per barrel.
In the fixed-income market, the 10-year Treasury yield saw a slight increase to 4.11% on Thursday morning.
The 10-year yield had climbed to 4.1% the previous day, extending a winning streak over three sessions.
Written by B.C. Begley
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B.C. Begley 