Thursday saw U.S. equities embracing a risk-on sentiment, with major averages all showing gains as investors anticipated a potentially slowing labor market pace in March, which could bolster the case for rate cuts starting in June.
Data released this morning revealed a surge in last week's unemployment claims, exceeding predictions at 221,000 compared to the expected 214,000. Economists anticipate a moderation in nonfarm payrolls from 274,000 in February to 200,000 in March, along with a further easing in average hourly earnings growth from 4.3% to 4.1% year-on-year.
At midday trading in New York, the S&P 500 surged by 0.8% to 5,250 points, poised to achieve a record-high close. Similarly, the Nasdaq 100 rose by 1% to 18,350 points, also on track for a record closing. All S&P 500 sectors traded in the green.
AI-related stocks outperformed, evidenced by the Global X Artificial Intelligence & Technology ETF (NYSE:AIQ) climbing 1.3% to reach fresh all-time highs.
Magnificent Seven witnessed the strongest session in nearly a month, as the Roundhill Magnificent Seven ETF (NYSE:MAGS) rallied 1.7%, buoyed by robust gains from Meta Platforms Inc. (NASDAQ:META) and TeslaInc. (NASDAQ:TSLA).
Gold paused for a breather, down 0.5%, after hitting $2,300/oz. overnight, while Bitcoin rebounded by 2.9%, on track for the best session in more than a week.
Thursday's Performance In Major U.S. Indices, ETFs
Major Indices
Price
1-day %chg
Nasdaq 100
18,350.04
1.0%
Russell 2000
2,092.88
1.0%
S&P 500
5,252.37
0.8%
Dow Jones
39,318.12
0.5%
The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.8% higher to $523.50, the SPDR Dow Jones Industrial Average (NYSE:DIA) was 0.5% higher to $393.11 and the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) was 1.1% higher to $446.84, according to Benzinga Pro data.
Sector-wise, the Consumer DiscretionarySelect Sector SPDR Fund (NYSE:XLY) and the Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 1.1%, while the Health Care Select Sector SPDR Fund (NYSE:XLV) was the laggard, up 0.1%.
Thursday's Stock Movers
Solar stocks rallied Thursday, with the Invesco Solar ETF (NYSE:TAN) up over 3%. Industry heavyweight First Solar Inc. (NASDAQ:FSLR) and Enphase Energy Inc. (NASDAQ:ENPH) were up 5.8% and 6.5%, respectively, representing the top performers in the S&P 500 index for the day.
Lamb Weston Holdings Inc. (NYSE:LW) fell over 18% as the company missed both earnings and revenue projections last quarter.
Other companies reacting to earnings were Levi Strauss & Co. (NYSE:LEVI), up 16%, RPM International Inc. (NYSE:RPM) down 5.4%, BlackBerry Ltd. (NYSE:BB) up 10%, ConAgra Brands Inc. (NYSE:CAG), up 5.5%.
Nikola Corp. (NASDAQ:NKLA) rose by 12% after the company produced 43 hydrogen-electric trucks in the first quarter, surpassing the production level for all of 2023 in a single quarter.
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ソーラー株は木曜日に上昇し、Invesco Solar ETF（NYSE: TAN）は3％以上上昇しました。業界の重要な企業であるFirst Solar Inc。（NASDAQ：FSLR）とEnphase Energy Inc.（NASDAQ：ENPH）は、それぞれ5.8％と6.5％上昇し、S＆P 500指数の上位パフォーマーを表しました。
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
AI-related stocks outperformed, evidenced by the Global X Artificial Intelligence & Technology ETF (NYSE:AIQ) climbing 1.3% to reach fresh all-time highs. 
人工知能関連の株式は好調で、グローバルX人工知能・テクノロジーETF（NYSE：AIQ）が1.3％上昇して史上最高値を更新しました。