Thursday was a tale of two markets. Technology and growth names powered a strong session for the Nasdaq, which surged 2.51% to close at 26,884.51, while the blue-chip Dow Jones lagged badly, slipping 0.15% to 51,227.22. The split performance underscored a decisive rotation into high-growth, rate-sensitive tech names at the expense of the more value-oriented Dow components.
The S&P 500 threaded the needle between the two, gaining 0.78% to settle at 7,474.87 — a solid close that reflects the index's heavier weighting toward mega-cap technology. The Russell 2000 was a notable bright spot as well, jumping 1.97% to 2,944.08, suggesting risk appetite extended well beyond just the largest names on Wall Street.
Nvidia led the charge among individual names, adding 2.95% to reach $210.69, reinforcing its role as a bellwether for AI-driven sentiment. On the flip side, JPMorgan Chase was the session's most prominent casualty, dropping 2.47% to $325.22 and dragging financials lower alongside it.
Gold continued to command attention as a store of value, holding at $4,227.35 — a reminder that even amid equity optimism, investors are not entirely abandoning defensive hedges.