US stocks close at record high, Dow Jones adds 650 points

US stocks ended in the green on Thursday, with the broader market index closing at a record high after the Federal Reserve’s rate cut, while the Nasdaq lagged as renewed pressure hit the technology sector.

The Dow Jones Industrial Average rose 1.34% (646 points) to 48,704, marking another record high.

The S&P 500 added 0.21% (14 points) to 6,901, also setting a fresh record, while the Nasdaq Composite slipped 0.26% (60 points) to 23,593.

Wall Street got a boost from a 1.84% gain in the S&P 500 Financials Index, which climbed to 910 points following yesterday’s Fed rate cut.

The tech sector, however, came under pressure after Oracle shares plunged 10.84% to $198.85, as the company posted quarterly lower-than -forecast revenue, rekindling concerns over elevated valuations among AI-linked stocks.

In Europe, the Stoxx Europe 600 rose 0.55% to 581.34 at the close, supported by broad gains across major bourses.

The FTSE 100 advanced 0.49% to 9,703, the CAC 40 gained 0.79% to 8,085, and Germany’s DAX climbed 0.68% to 24,294.

In Japan, the Nikkei 225 fell 0.90% to 50,148, while the broader TOPIX dropped 0.95% to 3,357.

In commodities, Brent crude futures for February delivery declined 1.49% (93 cents) to USD 61.28 per barrel.

US WTI crude for January delivery fell 1.47% (86 cents) to $57.60 per barrel.

Gold futures for February delivery jumped 2.1% ($88.3) to $4,313 per ounce.

Official data released today showed initial jobless claims rising by 44,000 to 236,000 last week, after reaching a three-year low in the prior week, with figures affected by Thanksgiving-related seasonal factors.