11.12.202519:13:52UTC+00S&P 500 Rebounds, Dow at Fresh Record

The Dow surged over 600 points, reaching a new record, as the S&P 500 rebounded from early losses to trade slightly higher. Meanwhile, the Nasdaq reduced its losses to approximately 0.5% on Thursday afternoon. This shift occurred as investors moved away from highly valued tech stocks and into more cyclical and undervalued sectors, following the Federal Reserve's decision to reduce interest rates by 25 basis points, positioning them between 3.50% and 3.75%. The Fed also hinted at a possible easing trajectory. Visa saw a notable increase of over 5% following an upgrade from Bank of America, while Mastercard and American Express rose by more than 4% and 1.5%, respectively. Other significant performers included JPMorgan (+2.2%), UnitedHealth (+3.1%), Goldman Sachs (+2.4%), Wells Fargo (+2.8%), and Progressive (+3.5%). However, persistent weakness in the technology sector limited broader market gains. Oracle dropped over 11% due to disappointing revenue, cloud sales, and a more pessimistic spending outlook, which has reignited concerns about the timeline for returns on AI investments. The semiconductor sector also faced declines, with Nvidia (-2.1%), Broadcom (-1.7%), AMD (-1.2%), and Applied Materials (-2.5%) all losing ground.