Meanwhile, the VanEck Semiconductor ETF (SMH<\/a>) jumped 8%, its best day since April this year, supported by gains in\u00a0 AMD (AMD), Broadcom (AVGO) and Micron Tech (MU). The broader Vanguard Information Technology ETF (VGT) rose 4.6%, tracking gains in Nvidia (NVDA), Amazon (AMZN) and Microsoft (MSFT).<\/p>\n Retail sentiment on Stocktwits for QQQ and SPY hovered in the \u2019bearish\u2019 zone, while sentiment for DIA was \u2018bullish\u2019 with \u2018high\u2019 message volumes.<\/p>\n US Market DriversIndexMoveCloseDow Jones Industrial Average1.2%\u00a052,208.06\u00a0\u00a0\u00a0\u00a0\u00a0S&P 5001.7%7,437.63\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Nasdaq 1003.4%28,106.35\u00a0<\/p>\n Following reports that Situational Awareness, a hedge fund managed by former OpenAI researcher Leopold Aschenbrenner, divested a significant portion of its assets to Citadel after offloading equities impacted by the AI market downturn, broader AI shares rallied on Thursday.<\/p>\n Bloom Energy Corp. (BE), Sandisk Corp. (SNDK) and CoreWeave Inc. (CRWV) each soared more than 20%.<\/p>\n \u201cDespite near-term volatility, the outlook for US equities remains constructive, supported by strong corporate earnings, ongoing AI adoption, a resilient economy, and favorable financial conditions,\u201d Sameer Samana at Wells Fargo Investment Institute told Bloomberg in an interview.<\/p>\n Microsoft\u2019s stellar growth in its cloud business and its decision to leave capex plans unchanged supported the stock and aided investor confidence that hyperscalers\u2019 blowout capex plans might transfer into justifiable returns.\u00a0<\/p>\n Alternatively, the personal consumption expenditures price index core reading for June arrived at an annual 3.3%, an elevated rate to the Federal Reserve\u2019s 2% inflation target that Kevin Warsh mentions is a hard limit.\u00a0<\/p>\n Concurrently, economic growth in the United States registered a deceleration to 1.5% for the second quarter, falling short of the 1.8% prediction, though the foundational pillars of the economy persisted in showing resilience. These metrics were unveiled in the latest economic data released Thursday.<\/p>\n Trending Stocks To Watch\u00a0<\/p>\n Oracle (ORCL): Oracle Corp. said it would expand a partnership with Google Cloud to bring Gemini AI tools to its customers.<\/p>\n OpenAI (OPEAZZX): OpenAI announced significant cost reductions and performance upgrades across its GPT-5.6 artificial intelligence model family.<\/p>\n Alphabet Inc.’s (GOOG, GOOGL): Google on Thursday expanded its Gemini AI family into robotics with the launch of Gemini Robotics ER 2.<\/p>\n Bloom Energy (BE): Analysts at Mizuho upgraded their view on the stock to \u2018Outperform\u2019 with a price target 48% higher than its previous closing price.\u00a0\u00a0<\/p>\n Tesla (TSLA): The EV maker announced on Thursday that it has produced its 10 millionth vehicle worldwide, marking a major manufacturing milestone for the electric vehicle pioneer.\u00a0<\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n
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