By Angus Berwick and Alexander Osipovich
The Dow Jones Industrial Average climbed over 500 points in afternoon trading Thursday, powered by gains at Salesforce, International Business Machines and Goldman Sachs.
Snowflake shares soared more than 30% after the data-cloud company reported higher-than-expected revenue. Salesforce and other software stocks posted gains in its wake.
Alphabet shares fell sharply after the Justice Department said Google should be forced to sell off its popular Chrome browser, the latest twist in the government's antitrust case against the tech giant.
Nvidia shares were up modestly, after swinging between gains and losses. The chip maker reported blockbuster results and an upbeat outlook yesterday, but the report failed to meet some investors' sky-high expectations.
Bitcoin hit a new intraday peak above $98,000 early Thursday, continuing its wild rally on hopes of crypto-friendly policies from President-elect Donald Trump.
In recent market action:
U.S. stock indexes were higher. The Dow was up more than 1%, trailed by the S&P 500. The Nasdaq edged higher.
Crude oil prices rose more than 1% after Ukrainian authorities said Russia had fired an intercontinental ballistic missile into Ukraine, although Western officials didn't confirm the claim.
Crypto-linked shares were volatile. MicroStrategy shares surged nearly 15%, before reversing course to trade lower. They had closed at a record high Wednesday.
Adani Group stocks tumbled, after the U.S. charged the Indian conglomerate's founder in a $250 million bribery scheme.
Overseas markets were mixed. Japan's Nikkei 225 and Hong Kong's Hang Seng Index fell. The Stoxx Europe 600 rose modestly.
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(END) Dow Jones Newswires
November 21, 2024 14:04 ET (19:04 GMT)
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