The S&P 500 climbed 1.7% to settle at 7,437.63, while the Dow surged 1.2% to 52,208.06, bouncing sharply from Wednesday's Fed-induced selloff. Microsoft shares jumped 16%, after reporting growth from its Azure business, sparking a broad tech rally that lifted the Nasdaq 2.8%. Chip stocks led the rebound as dip buyers wagered the AI trade has further to run.
→ Amazon is scheduled to release its Q2 2026 financial results after the market closes today.
→ The longer-dated 30-year Treasury bond yield was up 9 basis points at 5.234%, after hitting the highest level since 2007 on Wednesday—watch whether geopolitical tensions keep pushing yields higher.
→ Egypt said Thursday that a drone hit two ships at its Mediterranean port of Damietta, as attacks on energy infrastructure widen across the Middle East—energy disruptions could stoke inflation fears and volatility.