Dow Jones Falls Amid Mixed Earnings, Tech Gains Drive Nasdaq Higher

The US stock market oscillated in a tight range on Thursday as investors weighed strong company performance against geopolitical factors in the Middle East. The Dow Jones Industrial Average declined by 0.11%, while the Nasdaq and S&P 500 rose by 0.18% and 0.13%, respectively, driven by gains in major technology companies such as Apple, Microsoft, and Nvidia.

However, poor company results from Peloton and Sandisk pulled down market sentiments. Crude oil prices increased amid reports of efforts to open up the Strait of Hormuz, while gold prices continued their upward momentum as investors sought safe-haven assets.

The tech-heavy Nasdaq Composite climbed 0.18% on the back of positive performance from Apple, Microsoft, and Nvidia, with gains of 1.35%, 1.54%, and 1.31%, respectively. The S&P 500 edged closer to record levels, gaining 0.13% to about 7,733 points.

The Dow Jones decreased by 61.37 points due to negative performance from IBM, UnitedHealth, and Visa, despite the positive movement of technology stocks. Traders continued to shift their focus toward big-cap tech firms while reducing their stakes in firms that gave weak guidance.