Dow Surges Amid Treasury Buybacks as Tech Sinks on Nvidia Jitters

The Dow Jones Industrial Average rose for the second consecutive session on August 24, finishing at 53,417.16 after gaining 140.15 points (0.26%). The increase was attributed to declining long-term Treasury yields and lower crude oil futures.

However, the tech-heavy Nasdaq Composite fell 200.264 points (0.76%) to close at 25,980.191 due to selling pressure in semiconductor stocks led by Nvidia ahead of its quarterly earnings release on August 26.

The U.S. Treasury Department announced it would double the size of its Treasury buyback program from $2 billion to at least $4 billion, but analysts cautioned that structural factors such as government debt and AI capital spending would likely prevent a significant drop in rates.