US stock indices on Wall Street closed higher on Thursday, supported by gains in the healthcare and consumer sectors, despite ongoing concerns about artificial intelligence companies and the impact of rising borrowing costs.
Reuters reported that the Standard & Poor’s 500 index rose by 0.33 percent to close at 7,744.06 points, recovering from early session losses, while the Nasdaq index rose by 0.08 percent to 26,713.03 points. The Dow Jones Industrial Average also rose by 1.08 percent to 52,177.69 points.
Technology and healthcare sector movements
In the technology sector, shares of several AI-related companies fell, as investors scrutinized their exposure to rising interest rates and financing costs. Conversely, Eli Lilly’s shares rose by more than 3 percent, UnitedHealth’s shares rose by 2.8 percent, and Walmart’s shares rose by 1.4 percent after Deutsche Bank upgraded its rating.
Nvidia’s shares fell by 1.8 percent after Taiwan Semiconductor Manufacturing Company (TSMC) issued cautious forecasts for 2027, despite reporting record quarterly profits for the sixth consecutive time, driven by strong demand related to AI technologies. Dell Technologies’ shares also dropped by 6.9 percent, and Hewlett Packard Enterprise’s shares fell by 7.1 percent, continuing losses from the previous session.
Bond market and semiconductors
In the bond market, the yield on the 10-year US Treasury note declined but remained close to multi-year highs, as investors remained concerned about inflationary pressures linked to rising oil prices. The Philadelphia Semiconductor Index fell by 0.9 percent, marking its seventh consecutive session of declines.
US stock indices closed lower on Wednesday, with the Nasdaq suffering sharp losses amid growing fears that the Federal Reserve (the US central bank) would raise interest rates following data showing US inflation rose more than expected.
Source: Syrian Arab News Agency (SANA)
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