Major indices closed lower Thursday as technology weakness weighed on broader markets, with the S&P 500 falling 0.25% to 6,624 and the Nasdaq declining 0.32% to 22,060. The Dow Jones posted the steepest decline, dropping 0.42% to 46,134 as industrial and financial stocks faced selling pressure.
Small-cap stocks bucked the trend, with the Russell 2000 gaining 0.65% to 2,486, suggesting investors rotated into domestic-focused names. The VIX climbed to 25.6, reflecting heightened uncertainty as markets grappled with mixed economic signals and sector rotation dynamics.
Schlumberger led major gainers with a 5.52% surge to $47.82 following strong quarterly earnings and an optimistic outlook for drilling activity. The energy services sector benefited from sustained oil prices and improved capital expenditure from exploration companies. Conversely, Micron Technology tumbled 3.78% to $444.27 as semiconductor investors grew cautious about memory chip demand cycles.
Gold reached $4,558 as investors sought safe-haven assets amid market volatility, while crude oil prices remained relatively stable in the low-$80s range.