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US Equity Indexes Rise Amid Broad-Based Rally in Final Leg of Trading

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US equity indexes rose ahead of Thursday's close as technology partially clawed back intraday declines, helping widen a broad-based rally.

The Dow Jones Industrial Average jumped 1.9% to 51,634.6, and the S&P 500 climbed 0.5% to 7,593.2. The Nasdaq Composite edged up 0.1% to 26,896.7, after trading lower earlier in the session.

All sectors but technology and consumer staples rose. Healthcare and financials were standout gainers, followed by communication services.

Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.

Broadcom shares fell more than 13%, among the worst performers in the S&P 500 and the Nasdaq, weighing on the so-called artificial intelligence trade. Shares of Micron Technology (MU), Arm (ARM), and Advanced Micro Devices (AMD) were among the worst performers in a group of companies with a market capitalization of more than $200 billion, according to data compiled by Finviz.

In geopolitical news, Hezbollah on Thursday rejected the latest ceasefire agreement between Israel and the Lebanese government, demanding a complete Israeli withdrawal from Lebanon as more fighting there hampered efforts to end the Iran war, the Associated Press reported.

This comes as the House on Wednesday approved a war powers resolution that would halt US military action against Iran, according to a separate Associated Press report. If the resolution were to pass in the Senate, where 50 of 100 senators have appeared to support it, US President Donald Trump would be required to either withdraw troops from Iran or gain approval from Congress for the war, according to an analysis from CNN.

The White House, which has signaled it believes the underlying law is unconstitutional, could try to ignore the resolution, per CNN.

West Texas Intermediate crude oil futures slumped 3% to $93.14, and Brent crude futures dropped 2.7% to $95.18.

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