Dow Jones jumps 870 points to record close

US stocks ended Thursday's session higher, with the Dow Jones Industrial Average posting a record close as tensions in the Middle East eased and investors rotated out of technology stocks into more traditional sectors.

At the close, the Dow Jones Industrial Average gained 874 points, or 1.73%, to finish at a record 51,561.

The S&P 500 rose 0.41% to 7,584, while the Nasdaq Composite slipped 0.10% to 26,830.

In Europe, the STOXX Europe 600 advanced 0.52% to 624 points, with major regional markets posting gains despite mixed sector performance.

Britain’s FTSE 100 rose 0.27% to 10,360, Germany’s DAX gained 0.60% to 24,944, and France’s CAC 40 climbed 1.15% to 8,244.

In Asia, Japan’s Nikkei 225 fell 1.35% to 67,470, while the broader TOPIX index declined 1.10% to 3,951.

As for commodities, Brent crude futures for August delivery fell 2.84%, or $2.78, to $95.03 a barrel, while WTI crude futures for July delivery dropped 3.10%, or $2.98, to $93.04 a barrel.

Gold futures for August delivery rose 0.85%, or $38.10, to settle at $4,505 per ounce.

What moved markets?

Market sentiment improved after Israel and Lebanon agreed to a ceasefire, easing concerns over the conflict in the Middle East and pushing oil prices lower.

Equity gains were partially capped, however, after disappointing earnings from Broadcom, which triggered renewed selling in technology shares.