Record Setting Rally Rolls on, Dow Adds 260+

Stocks climbed Thursday and technology shares outperformed, adding to the previous session’s gains that led to new records on Wall Street.

The Dow Jones Industrials surged 269.76 points to 39,781.89.

The S&P 500 index gained 16.9 points to 5,241.52.

The NASDAQ advanced 32.43 points to 16,401.84.

Micron Technology jumped 16% on strong earnings and headed for its best day since December 2011. The news lifted the semiconductor sector, with Nvidia and Intel added more than 1%, while Taiwan Semiconductor rose 2.5%.

Megacap tech stocks that led the recent rally contributed to the session’s gains, with Meta Platforms, Microsoft and Amazon adding nearly 1%. Apple bucked the broader tech-driven uptrend, slumping 4% after the Justice Department filed an antitrust lawsuit against the iPhone maker. Social media company Reddit surged more than 40% above its initial public offering price in its market debut.

Wall Street will monitor earnings reports from FedEx and Nike after the market close.

Thursday’s moves follow a winning day on Wall Street that sent the three major indexes to new closing highs, with the S&P 500 breaking above 5,200 for the first time.

Prices for the 10-year Treasury were higher, lowering yields to 4.27% at Wednesday’s 4.28%.

Oil prices slid 22 cents to $81.05 U.S. a barrel.

Gold prices rallied $21.90 to $2,182.90.