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Dow Jones Closes Higher in Varied Session; Apple’s Decline Weighs on Tech Stocks While Chip Giant Soars with Impressive Victory

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Dow Jones Industrial Average Closes Higher Despite Mixed Day for Major Indexes


The Dow Jones Industrial Average reversed early losses and finished nearly 0.2% higher at 4 p.m. ET. But losses on the other major indexes made Thursday a mixed day.

Jobless Claims and Rate Hike Odds

On Thursday, initial jobless claims fell to 216,000 for the week ended Sept. 2, from a revised 229,000 in the prior week, according to Econoday. The odds of a rate hike in November stands at 43.4%, according to the CME FedWatch Tool.

Performance of Major Indexes

The S&P 500 also pared some of its losses and traded 0.3% lower at the closing bell. The Nasdaq lagged with a 0.9% fall as tech stocks sold off. All three indexes remained under their 50-day moving averages during the trading day.

Volume and Small-Cap Performance

Volume was higher on the NYSE and picked up in the last hour of trading on the Nasdaq compared with the same time Wednesday. The small-cap Russell 2000 fell 1% while the Innovator IBD 50 ETF (FFTY) fared better with a 0.4% drop.

Commodity and Treasury Note Performance

Crude oil fell over 0.5% to $86.95 a barrel. The yield on the benchmark 10-year Treasury note fell 3 basis point to 4.26%.

ARK Invest and Ethereum Spot ETF

Late Thursday, Cathie Wood’s ARK Invest along with asset management firm 21 Shares filed with the SEC to offer an Ethereum spot ETF that will hold ether cryptocurrency. Major asset management firms awaiting approval of a U.S. spot crypto ETF include VanEck and Blackstone.

Dow Jones Stocks

Apple (AAPL) pared some losses after falling sharply on news of China curbs on iPhone use by government officials. The stock undercut its 50-day line on Wednesday and finished 3% lower Thursday. Tech leaders in the Dow, Microsoft (MSFT) and Cisco (CSCO), also fell. Intel (INTC) rose into a buy zone from a 37.19 entry after breaking out on Tuesday on news that it will offer its foundry services to chipmaker Tower Semiconductor (TSEM).

Stocks Moving Today

Sprinklr (CXM) gave back most of its early gains in the afternoon but was still slightly higher at closing bell. Among enterprise software stocks, Smartsheet (SMAR) rose in after-hours trading after reporting earnings. Braze (BRZE) is on deck as well. Verint Systems (VRNT) and Amkor Technology (AMKR) both experienced declines in their stock prices.

GameStop Quarterly Results

Outside the Dow Jones, meme play GameStop (GME) pared losses after quarterly results. Revenue grew 2% while a loss of 3 cents per share improved from a 35-cent loss from the same quarter a year earlier.


Despite mixed performance among major indexes, the Dow Jones Industrial Average managed to close higher. Various factors, including jobless claims, rate hike odds, and individual stock performances, influenced the market throughout the day.

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