Nasdaq’s Winning Streak Ends as Semiconductor Slump Hits Market; Dow Sees Gains

Stock Indexes Wrap: Chip Stocks Weigh on Nasdaq as Oil, Defense Tick Up

In the world of stock indexes, Thursday saw a mixed bag of performances as chip stocks weighed down the Nasdaq while oil and defense sectors ticked up. Here’s a rundown of the key highlights from the day:

**Dow Jones Industrial Average:**
– Chevron (CVX) gained 2.2% as part of the energy sector’s nearly 2% rise.
– Johnson & Johnson (JNJ) rose 1.5% after positive results from a phase 3 trial of its drug Tremfya for Crohn’s disease.
– Honeywell (HON) ticked up 0.6% after announcing the acquisition of defense contractor CAES Systems for $1.9 billion.
– Apple (AAPL) fell 2.2% due to pressure from a major index fund’s rebalancing.

**S&P 500:**
– Gilead Sciences (GILD) surged 8.5% after positive results from a phase 3 trial of its newest HIV prevention medication.
– Accenture (ACN) gained 7.3% on better-than-expected quarterly earnings.
– Oil companies like Hess Corp. (HESS) and ExxonMobil (XOM) were among the best performers.
– Defense firms like Northrop Grumman (NOC) and Leidos (LDOS) got a boost from Honeywell’s CAES deal.
– Darden Restaurants (DRI) rose 1.5% after beating estimates with its adjusted quarterly earnings.

**Nasdaq 100:**
– Amazon (AMZN) gained 1.7% as Anthropic, the OpenAI competitor it backs, unveiled an advanced version of its Claude chatbot.
– Chip stocks like Micron (MU), Qualcomm (QCOM), and Broadcom (AVGO) fell after a massive rally.

Overall, the day showcased a dynamic mix of gains and losses across various sectors, highlighting the ever-changing landscape of the stock market. Stay tuned for more updates on the market trends and performances.