The Dow Jones Industrial Average closed higher on Thursday, while the S&P 500 and Nasdaq also rebounded. The market was supported by a surge in chip stocks and strong earnings from Microsoft, which eased concerns about investment in artificial intelligence infrastructure. The Dow Jones Industrial Average closed at 52,208.06 points, up 613.92 points or 1.19 percent. The S&P 500 closed at 7,437.63 points, up 121.48 points or 1.66 percent. The Nasdaq closed at 25,122.18 points, up 679.24 points or 2.78 percent. European stocks also closed higher, with the STOXX 600 index closing at 649.95 points, up 4.94 points or 0.77 percent, supported by strong earnings from banking and industrial companies. Meanwhile, the London stock market closed slightly lower after the Bank of England held interest rates steady. West Texas Intermediate crude oil futures fell 87 cents to settle at 83.59 dollars per barrel amid reports of a maritime coalition forming in the Red Sea. COMEX gold futures rose 63.60 dollars to settle at 4,160.60 dollars per ounce, as the dollar weakened and US inflation data slowed.
Microsoft CorporationMicrosoft's strong earnings eased AI infrastructure investment concerns, boosting market sentiment.