A 15% jump in Microsoft shares drives the NASDAQ 100 to 27,950, while the Dow adds just 200 points amid mixed earnings.
The NASDAQ 100 climbed nearly 3% to 27,950, recovering from a two-month low, as Microsoft’s 15% gain on strong cloud growth led the rally. The Dow Jones Industrial Average rose just 200 points to 51,800, despite holding five of the same mega-cap stocks, including Microsoft and Apple.
The NASDAQ 100 remains 9% below its June peak of 30,750, with Thursday’s high falling 700 points short of its 50-day Exponential Moving Average. Meta Platforms weighed on sentiment, dropping 9% after a weak revenue forecast and a 91% decline in second-quarter free cash flow.
Semiconductor stocks joined the rally, with a benchmark chip fund up over 8%, but broader market structural issues persist. The Dow’s underperformance highlights divergent sector performance despite overlapping constituents.