US Stocks Rise Despite Volatility in Artificial Intelligence Shares
Strong corporate earnings offset turbulence in global markets and sell-offs in artificial intelligence stocks, pushing US indexes higher.
US stock indexes climbed on Thursday thanks to companies reporting profits that exceeded expectations, despite volatility in the artificial intelligence sector and sharp sell-offs in global markets.
Rise in US Indexes
US stock indexes followed an upward trajectory on Thursday as companies announced earnings above expectations.
The S&P 500 index erased its morning losses to post a 0.3 percent increase, moving another step closer to its record level.
Large Corporations' Earnings
Marsh & McLennan rallied by 4.6 percent after reporting earnings that beat analyst expectations.
Kimberly-Clark gained 4.7 percent in value after announcing revenue and profit expectations above forecasts.
Global Markets and Asian Sell-offs
The sell-off wave in artificial intelligence stocks also affected global markets, resulting in sharp declines in Asian stock exchanges.
South Korea's Kospi index declined by 7.6 percent, while Japan's Nikkei 225 index dropped by 4.9 percent.
Technology and Artificial Intelligence Stocks
Nvidia shares fell by 1.8 percent, while Taiwan Semiconductor Manufacturing Co. also reduced its losses to decline by 1.8 percent.
CoreWeave, on the other hand, recovered its intraday drop to finish the day with a 5.9 percent increase.
Bond Market and Other Exchanges
In the bond market, the yield on the 10-year Treasury note fell from 5.19 percent to 5.09 percent.
European indexes such as the FTSE 100 in London closed the session with a 1.1 percent increase.