US Equity Markets End Higher on Microsoft's Cloud Gains, Semiconductor Rebound

MT Newswires Live04:17

US equity indexes ended higher Thursday after Microsoft (MSFT) posted AI-backed gains and semiconductor stocks rebounded.

* Microsoft's intelligent-cloud segment's revenue increased 32% to $39.31 billion, buoyed by 43% growth in Azure and other cloud services.

* The personal consumption expenditures price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%.

* US initial jobless claims last week rose sequentially to 197,000 from an upwardly revised 188,000, versus expectations for an increase to 200,000 in a Bloomberg poll.

* September West Texas Intermediate crude oil fell $0.74 to settle at $83.70 per barrel, while September Brent crude, the global benchmark, was last seen down $1.56 at $89.18.

* Chip-related stocks jumped with Sandisk (SNDK) up 26%, the top performer on the S&P 500. Micron Technology (MU), Advanced Micro Devices (AMD) and Intel (INTC) also advanced.

* Alnylam Pharmaceuticals (ALNY) shares fell 28%, the biggest drop on the Nasdaq, after the company lowered its full-year 2026 net product revenue guidance.

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