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 experienced choppy trading on Thursday. The Dow Jones Industrial Average achieved a record high, and the S&P 500 rose, supported by healthcare and financial sectors. Conversely, the Nasdaq Composite declined, primarily due to Broadcom's shares plummeting over 14% following disappointing 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 saw a 3.1% gain, with UnitedHealth advancing 5.7% after a Bank of America upgrade. Weekly jobless claims also rose more than anticipated. In currency markets, the Japanese yen neared 160 against the dollar, with speculation of a Bank of Japan rate hike. Brent crude prices decreased by 3%.