Tech Rally Drives U.S. Stocks Higher for Third Consecutive Day
Megacap tech stocks propelled U.S. markets upward as the Nasdaq Composite surged 2.74% and the S&P 500 gained 2.03% on Thursday. The Dow Jones Industrial Average trailed with a 1.23% advance, weighed down by IBM’s 6% decline following lost government contracts.
Nvidia, Meta, Amazon, Tesla, and Microsoft led the charge, extending the tech sector’s winning streak despite geopolitical headwinds. China’s commerce ministry denied ongoing trade negotiations with the U.S. while demanding tariff removals, creating market tension overshadowed by the tech rally.