STORY: U.S. stocks rose on Thursday, with the Dow gaining more than four-tenths of a percent, the S&P 500 adding over a quarter-percent and the Nasdaq ticking up marginally.
The gains, while moderate, marked fresh record high closes for the S&P 500 and Nasdaq.
Nvidia's return to its $4 trillion valuation milestone for a second straight day helped boost the indexes.
But the tech-heavy Nasdaq's muted move marked a notable turn in sentiment, said Melissa Brown, managing director of investment decision research at SimCorp.
“We do see today different from what we've seen for a while now is that there seems to be more of a preference for lower volatility kinds of names (stocks) as opposed to the really up-and-comers. That's why Nasdaq is, you know, not up as much as the other indices. So that if that's happening or if that continues, that would really be a big shift from what we've seen basically since April 9th.”
Among other stocks, shares of Delta Air Lines soared 12% after the carrier forecast third-quarter and full-year profits above Wall Street estimates. That boosted the whole sector, with United Airlines and American Airlines also rallying.
Shares of WK Kellogg skyrocketed more than 30% following reports that Italian candy maker Ferrero was nearing a deal to buy the cereal maker.
But shares of Conagra Brands sank over 4% after it forecast annual profit below Wall Street expectations, citing higher tariff-related costs for products, including its Hunt's ketchup.
