The S&P 500 Index ($SPX) (SPY) Thursday closed up +0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.06%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.36%.
Stocks on Thursday finished moderately higher. Stocks recovered from mixed trading Thursday and turned higher on the prospects for the Trump administration’s tax policies and deregulation to boost corporate profits. Also, most chip stocks rallied Thursday following a volatile day for Nvidia, which finished only slightly higher despite reporting better-than-expected Q3 earnings after CEO Huang said the production and engineering costs of its new Blackwell AI chips will weigh on profit margins. The strength of software stocks was also positive for the overall market after Snowflake closed up by more than +32% after it reported stronger-than-expected Q3 revenue and raised its full-year product revenue estimate.
