Dow Hits Record High And S&P 500 Gains As Oil Slides, While Chip Weakness Weighs On Nasdaq — AVGO, UNH, META, PINS, RUM In Focus

• The S&P 500 rose 0.5%, and the Dow Jones gained 1.7%, while the Nasdaq 100 lost 0.5%.
• The Dow Jones Industrial Average rallied to a fresh record high. 
• Broadcom dropped about 13%, while Micron and Arm Holdings lost about 5%.

The Dow Jones and S&P 500 gained on Thursday as oil prices cooled, even as concerns over US-Iran tensions remained elevated. Meanwhile, a decline in chipmakers led by Broadcom dragged the Nasdaq lower.

The S&P 500 ended 0.5% higher, the Nasdaq 100 lost 0.5%, and the Dow Jones rose 1.7% on Thursday, as per data from Koyfin. The Russell 2000, which tracks stocks with small market capitalization, gained nearly 1.5%.

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) ended Thursday around 0.2% higher and 0.7% lower, respectively. The SPDR Dow Jones Industrial Average ETF Trust (DIA) jumped 1.6%. 

The VanEck Semiconductor ETF (SMH) dropped 2.3%, pushing retail sentiment on the semiconductor ETF into bearish territory.

Meanwhile, retail sentiment on Stocktwits for SPY and QQQ was “bullish”, while sentiment for DIA moved to the “bearish” territory on Thursday. 

US Market Drivers

Optimism on Wall Street has been fueled by prospects for a diplomatic resolution to the conflict, coupled with indications of a sturdy economy and robust corporate earnings.

Market sentiment was further bolstered by a decline in oil prices amid expectations that the U.S. and Iran are making progress toward a peace agreement. This follows a conditional ceasefire between Israel and Lebanon, though the agreement has been challenged by persistent localized fighting.

“Earnings estimates have continued to move higher, while management teams have talked up a resilient consumer,” Bret Kenwell at eToro told Bloomberg in an interview. “For retail investors, that ultimately created a buy-the-dip opportunity.”

The Iran-backed ​Hezbollah militia rejected a new ceasefire in Lebanon on Thursday and Israel refused to withdraw troops from the ‌country, undermining U.S. President Donald Trump's efforts to broker a long-lasting ceasefire. 

Alternatively, investors are awaiting a key jobs report due on Friday, which will set the tone for future interest rate decisions by the U.S. Fed. 

Trending Stocks To Watch 

Broadcom (AVGO): Shares fell more than 15% after the chipmaker’s decision not to raise AI revenue expectations for fiscal 2026 and 2027 disappointed investors. 

UnitedHealth (UNH): Shares jumped 5.2% after BofA analyst Kevin Fischbeck upgraded UNH to ‘Buy’ from ‘Neutral’ with a price target of $450, up from $420     

Meta Platforms (META): Announced the global rollout of "Instagram Plus," a new subscription service that introduces a suite of exclusive tools, customization options, and advanced analytics to the popular social media platform.   

Pinterest (PINS): The firm announced a major expansion of its AI infrastructure partnership with Amazon Web Services (AWS), committing $4 billion for cloud services through 2031. 

Rumble (RUM): The company announced that it has signed a $270 million agreement with an unnamed third-party cloud customer.  

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