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The S&P 500 ticked higher on Thursday as oil prices and Treasury yields were volatile, with traders hoping for a resolution to the Middle East conflict.
The Dow Jones Industrials accelerated 276.43 points to 50,285.78
The much broader index climbed 12.73 points to 7,445.70.
The NASDAQ gained 22.74 points to 26,293.10.
Traders on Thursday also digested Nvidia’s latest quarterly report. Nvidia breezed past Wall Street’s expectations for earnings and guidance, in addition to announcing a hike in its quarterly cash dividend to 25 cents.
But investors have come to expect the chipmaker to beat estimates and raise its outlook amid the AI boom.
Crude prices jumped after Reuters reported, citing sources, that Iran’s supreme leader issued a directive to keep enriched uranium within the country — further complicating the outlook to a resolution to the U.S.-Iran war.
West Texas Intermediate futures were up 3% at $102 per barrel. Brent crude popped 3% to $108 per barrel.
Prices for the 10-year Treasury climbed. lowering yields to 4.56% from Wednesday’s 4.57%. Treasury prices and yields move in opposite directions.
Oil prices skidded 78 cents to $97.48 U.S. a barrel.
Gold prices recovered $5.50 to $4,540.80 U.S. an ounce.
