The techno giant collapsed, but the Dow Jones broke the record – “An example of the use of exchange rate invoices”

On Wall Street, the stock market rallied on Thursday as investors took advantage of buy positions, even the semiconductor giant Broadcomin weaker-than-expected outlook weighed on the technology sector.

“Today is yet another example of using course invoices,” said Navellier & Associates investment manager Louis Navellier for the news agency Bloomberg.

The S&P 500, which tracks large companies, strengthened by 0.4 percent and the flagship Dow Jones index by 1.7 percent. The Dow Jones hit a new high ahead of Friday’s employment figures.

The technology-focused Nasdaq, on the other hand, weakened by 0.1 percent. The Russell 2000 index, which tracks small companies, rose 1.5 percent.

The drop in oil prices also supported the market sentiment. Investors hope that the United States and Iran will move towards a peace agreement, boosted by the cease-fire between Israel and Lebanon. However, sporadic clashes have been reported in the area. Hopes for a diplomatic solution to the Iran war, the sustainability of the US economy and strong interim corporate results have strengthened Wall Street’s optimism.

Siebert Financialin investment manager Mark Malek believes, according to Bloomberg, that the artificial intelligence boom will move to a stage where quality matters as much as revenue growth.

According to him, the market no longer pays endlessly just for an artificial intelligence stamp. Broadcom’s quarter was not bad, but the stock’s valuation had run too high.

“The demand is real and the opportunities are huge, but the price level can still rise too quickly,” Malek estimates.

While artificial intelligence and geopolitical tensions dominate the news, Friday’s jobs report is important for markets. In the United States, the unemployment rate is expected to have remained at 4.3 percent in May.

From large technology companies Nvidia strengthened by 1.8 percent, Apple 0.3 percent, Microsoft 0.2 percent, Alphabet 3.7 percent, Amazon 1.5 percent and Meta 0.7 percent. Tesla decreased by 1.2 percent.

Broadcom fell 12.6 percent.

Network equipment manufacturer on the New York Stock Exchange Nokia decreased by 0.7 percent. Nokia’s depository receipt or ADR is listed on the New York Stock Exchange.