The S&P 500 managed a modest rise of 0.28% to 7,712.57, though the tech-heavy Nasdaq Composite struggled to find footing, slipping 0.02% to 26,424.82. Market sentiment remained fragmented as traders weighed the potential for cooling inflation against ongoing fiscal pressures in the AI sector.
In section Market Quotes
Dow Jones Climbs as Earnings Reports Temper AI Credit Anxiety
The Dow Jones Industrial Average surged 529.85 points to 52,495.88, a 1.02% gain that underscored a resilient market appetite. While investors grappled with concerns over the sustainability of debt-fueled artificial intelligence spending, robust corporate earnings reports provided a necessary counterbalance, preventing a broader slide in U.S. equities.
Bond markets reflected this cooling outlook as a drop in oil prices helped moderate inflation expectations. The 10-year Treasury yield dipped 0.019 percentage point to 5.116%, and the 30-year bond yield fell 0.047 percentage point to 5.425%. Conversely, the policy-sensitive two-year Treasury yield climbed 0.026 percentage point to 4.785%. Meanwhile, safe-haven assets saw mixed activity; the U.S. dollar weakened against a basket of rivals as civil unrest in France began to subside, while gold futures retreated 0.4% to $4,122.40 per troy ounce.
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