AI Generated Image
Stocks rise on Wall Street as bond yields ease some more, even while oil prices continue to climb
AP News • • business
Key Points:
- Wall Street rose on Thursday, with the S&P 500 up 1.1%, the Dow Jones gaining 1.2%, and the Nasdaq increasing 1.4%, led by gains in big technology and communication services stocks such as Microsoft, Apple, Meta, and Nvidia.
- Nvidia announced a $13 billion acquisition of AI platform Hugging Face, contributing to its 1.5% stock rise, while other tech companies showed mixed results despite strong AI demand.
- Oil prices edged higher amid escalating U.S.-Iran conflict, with Brent crude at $95.75 per barrel and U.S. crude at $91.51, adding inflationary pressures despite some stabilization in bond yields.
- Economic data showed a slight increase in U.S. unemployment claims but continued low layoffs; investors are awaiting the August employment report and inflation figures, which are critical for Federal Reserve interest rate decisions.
- Some companies faced stock declines despite positive earnings beats, including Broadcom, Hewlett Packard Enterprise, Tyson Foods, and Victoria’s Secret, due to concerns over revenue outlooks, supply constraints, and market conditions.
