A Quiet Advance as Chips Lead the Way
Wall Street moved higher on Thursday, but the gains were measured rather than explosive. The Nasdaq Composite set the pace, climbing 0.81% to finish at 26,803.03 as semiconductor stocks staged a cautious comeback. The S&P 500 added 0.65% to 7,798.99, while the Dow Jones Industrial Average inched up just 0.13% to 53,839.99.
It was a grind, not a sprint. Chips regained their footing after a volatile stretch, and that was enough to keep the broader tech complex in positive territory.
What Moved
- WTI crude oil rose 1.13% to $82.17 a barrel, keeping energy costs front and center.
- Gold pulled back 0.79% to $4,385.50 an ounce, easing after its record-breaking surge.
- Bitcoin dipped 0.36% to $63,106.75, tracking a softer risk appetite in crypto.
The Bond Market
Treasury yields nudged higher across the curve. The 10-year yield settled near 4.655%, while the 2-year hovered at 4.152%. With a soft inflation print earlier in the week, the Federal Reserve has a bit more breathing room — but markets aren't counting on a rapid easing cycle just yet.
The takeaway? Equities are grinding higher on resilient tech demand, oil remains a wildcard for inflation, and gold's pause hints that the flight-to-safety trade is losing steam.