![]() ![]() ![]() government may technically default at the beginning of June. Ructions at the short end of the Treasury market, where some 1-month bill yieldsīroke above 7%, illustrate trader anxiety that unless Congress can reach an agreement to extend the debt-ceiling the U.S. ![]() West Texas Intermediate crude for July delivery CL00 CL.1 CLN23 fell 2.9%, settling at $72.20 per barrel. with President Biden saying negotiations were “making progress.”įalling crude oil prices weighed on shares of energy firms and dragged down the Dow. Top House Republicans and the White House on Thursday sounded upbeat on Washington’s debt-ceiling talks. The Dow ended up shedding 2.3% over a 5-day skid, the worst such stretch since March 15, according to Dow Jones Market Data. Rose 11.2%, while those of Microsoft Corp.Īs the Nasdaq climbed, the Dow briefly turned positive in afternoon trade but gave back earlier ground as debt-ceiling talks loomed over markets. It ended just shy of joining a small club of companies worth more than $1 trillion. With Nvidia’s eye-popping finish Thursday, the chip maker added $183.8 billion to its market capitalization, according to Dow Jones Market Data. “Optimism is bleeding over to other major technology-related companies.” “That’s helping lift the semiconductor space, fueling activity in the Nasdaq,” he told MarketWatch. “Today is all about the Nasdaq, which was briefly up almost 2% because of Nvidia and its earnings report,” said Robert Pavlik, senior portfolio manager at Dakota Wealth Management. debt-ceiling deadline were offset Thursday by excitement about the prospects for artificial-intelligence technology after chip maker Nvidia’s results late Wednesday, resulting in starkly different results for the Nasdaq and the Dow. ![]()
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