U.S. stocks closed higher on Thursday, supported by broad gains across Industrials, Basic Materials and Technology. The Dow Jones Industrial Average led the major indexes higher, while the S&P 500 and the Nasdaq Composite also ended the session with notable advances.
By the close on the New York Stock Exchange, the Dow Jones Industrial Average had climbed 1.86%. The S&P 500 rose 1.75%, and the Nasdaq Composite finished up 2.54%.
Notable movers on the Dow
- Honeywell International Inc (NASDAQ:HON) was the session's top performer on the Dow, gaining 6.42% or 13.21 points to finish at 219.09.
- Boeing Co (NYSE:BA) added 6.03% or 12.61 points, closing at 221.61.
- Caterpillar Inc (NYSE:CAT) rose 4.84% or 41.47 points, ending the day at 897.63.
- On the downside among Dow components, Salesforce Inc (NYSE:CRM) fell 2.35% or 4.01 points to 166.47.
- Chevron Corp (NYSE:CVX) declined 2.10% or 3.98 points to 185.82, and Microsoft Corporation (NASDAQ:MSFT) slipped 1.77% or 7.02 points to 390.34.
S&P 500 standouts
Several technology-related names led gains on the S&P 500. KLA Corporation (NASDAQ:KLAC) rose 12.86% to 2,410.26, while Lam Research Corp (NASDAQ:LRCX) gained 12.65% to settle at 362.50. Micron Technology Inc (NASDAQ:MU) increased 11.66% to close at 995.87.
On the lagging side, PTC Inc (NASDAQ:PTC) fell 12.48% to 118.22. Oracle Corporation (NYSE:ORCL) lost 8.58% to settle at 183.99, and Autodesk Inc (NASDAQ:ADSK) declined 7.17% to 205.42.
Big swings on the Nasdaq
The Nasdaq Composite was driven higher by several large percentage moves in smaller-cap names. Gelteq Ltd (NASDAQ:GELS) jumped 200.29% to 1.55. Quhuo Ltd (NASDAQ:QH) rose 130.10% to 7.48, and Galaxy Payroll Group Ltd (NASDAQ:GLXG) gained 109.51% to close at 2.05.
Conversely, NetClass Technology Inc (NASDAQ:NTCL) plunged 86.25% to 0.40. Purple Biotech (NASDAQ:PPBT) fell 47.97% to 1.54, and Big Tree Cloud Holdings Ltd (NASDAQ:DSY) declined 46.11% to 3.88.
Market breadth and notable price milestones
Advancing issues outnumbered decliners on the NYSE by 1,950 to 805, with 82 stocks unchanged. On the Nasdaq, 2,331 stocks rose, 1,080 declined and 206 finished flat.
Shares of KLA Corporation reached all-time highs, rising 12.86% or 274.62 to 2,410.26. Lam Research Corp also hit all-time highs, up 12.65% or 40.70 to 362.50. PTC Inc fell to three-year lows after its 12.48% drop to 118.22, and Autodesk Inc declined to 52-week lows, down 7.17% or 15.86 to 205.42.
Volatility, commodities and currencies
The CBOE Volatility Index, which reflects implied volatility of S&P 500 options, fell 12.47% to 19.45.
In commodities trading, Gold Futures for August delivery rose 2.46% or 101.75 to $4,235.05 a troy ounce. Crude oil for July delivery dropped 4.50% or 4.05 to $85.98 a barrel, and the August Brent oil contract fell 4.74% or 4.41 to $88.69 a barrel.
In currency markets, EUR/USD was unchanged 0.39% at 1.16, while USD/JPY fell 0.42% to 159.87. The US Dollar Index Futures was down 0.27% at 99.66.
Summary
Thursday's session saw a broad-based advance that lifted the major U.S. indexes, with particularly strong moves among industrial and technology names. Several semiconductor-related stocks posted double-digit gains and reached all-time highs, while a handful of smaller Nasdaq listings recorded dramatic percentage swings in both directions. Volatility eased and commodity prices diverged, with gold higher and crude oil lower.