USA: Dow Rises to New Record.

US stocks swung to trade mostly higher on Thursday as a pullback in oil prices softened inflationary risks, offsetting a pivot out of semiconductor companies after Broadcom released results. The S&P 500 rose 0.4% and the Dow gained over 900 points to a new record high. Despite repeated clashes, Israel and Lebanon signed a ceasefire that could pave the way for a US-Iran peace deal, lowering oil prices and bond yields. Banks and asset managers rebounded, with JPMorgan, Wells Fargo, and Morgan Stanley adding 4%, while Blackstone soared 8% despite capping private credit redemptions. In turn, the Nasdaq 100 fell 0.5% amid fresh selling for semiconductors, which have supported equity indices this year. Broadcom sank 15% despite beating earnings estimates, as its forecast for AI chip revenue fell short of most expectations. Micron and AMD followed with losses of over 4%. Also, Crowdstrike also slipped 6% after posting its earnings.