Markets ended Thursday in mixed fashion, with the Dow Jones Industrial Average surging 874.86 points, or 1.73%, to close at 51,561.93, marking a record high, while the S&P 500 rose 30.63 points, or 0.41%, to 7,584.31. In contrast, the Nasdaq Composite declined 23.02 points, or 0.09%, finishing at 26,830.96, reflecting a divergence in sector performance. The session was characterized by a rotation out of high-growth technology names and into financials, industrials, and retail, contributing to the Dow’s outperformance despite a pullback in broader tech sentiment.

The shift in market leadership followed disappointing guidance from Broadcom, which weighed on semiconductor stocks and cast doubt on the resilience of the AI-driven rally that has lifted many megacap tech names. This sector-specific selloff contrasted with strength in banks and cyclical sectors, supported by falling Treasury yields and a retreat in oil prices, factors that appeared to ease near-term inflation and rate concerns. The overall tone reflected a risk-on move in parts of the market, particularly for value and economically sensitive stocks, even as the Nasdaq’s dip signaled ongoing caution in growth equities after the Broadcom news.