By Angus Berwick and Alexander Osipovich
The Dow Jones Industrial Average climbed more than 300 points Thursday, bouncing back from choppy morning trading on the strength of Salesforce and financials such as Goldman Sachs.
The technology-heavy Nasdaq Composite declined, dragged down by some big names in tech. 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 down, after swinging between gains and losses earlier. The chip maker reported blockbuster results and an upbeat outlook Wednesday, 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. (One crypto entrepreneur Wednesday splashed $6 million on a banana duct-taped to a wall.)
In recent market action:
U.S. stock indexes were mixed. The Dow and S&P 500 were up, while the Nasdaq pulled back.
Snowflake shares soared around 30% after the data-cloud company reported higher revenue than expected.
Crude oil prices rose more than 1% after Ukrainian authorities said Russia had fired an intercontinental ballistic missile into Ukraine, stoking geopolitical tensions.
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 edged higher.
Write to Angus Berwick at angus.berwick@wsj.com and Alexander Osipovich at alexo@wsj.com
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(END) Dow Jones Newswires
November 21, 2024 12:11 ET (17:11 GMT)
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