Key facts
- Dow Jones Industrial Average reached an all-time high.
- Broadcom shares fell 14% after missing revenue expectations.
- Broadcom maintained its $100 billion AI chip sales forecast.
- S&P 500 tech index dropped 1.8%, and the Philadelphia SE Semiconductor index fell 2.8%.
- UnitedHealth shares advanced 5.7% following a Bank of America upgrade.
- Weekly jobless claims increased more than expected.
Global stocks saw choppy trading on Thursday, with European gains offsetting a mixed Wall Street session. The Dow Jones Industrial Average hit a record high, while the S&P 500 rose, driven by healthcare and financial stocks. The Nasdaq Composite, however, lost ground, pressured by Broadcom's shares which tumbled over 14% after disappointing investors with its revenue results and AI chip sales forecast. The S&P 500 tech index fell 1.8% and the Philadelphia SE Semiconductor index dropped 2.8%. Healthcare stocks gained 3.1%, led by UnitedHealth's 5.7% advance following a Bank of America upgrade. Weekly jobless claims increased more than expected. In currency markets, the Japanese yen hovered near 160 against the dollar, with hints of a potential interest rate hike from the Bank of Japan. Brent crude prices dropped 3% amid geopolitical developments.