Market Wrap | Apple Hits New Heights While Mixed Markets See AI and Drone Stocks Skyrocket

On Thursday, U.S. stock markets experienced mixed movements. By the close of the trading session, the Dow Jones Industrial Average edged up 0.07% to settle at 43,325.80 points, while the S&P 500 dipped slightly by 0.04% to 6,037.59 points. The Nasdaq Composite also declined marginally, dropping 0.05% to close at 20,020.36 points.

The day saw notable performances from several stocks; SES AI surged by an impressive 98.59%, and zSpace and reAlpha Tech soared by 71.61% and 161.31% respectively. On the downside, Hour Loop tumbled 18.64% and Nvni Group and Mersana Therapeutics fell by 13.91% and 12.35%, consecutively.

In the tech sector, most major companies ended the day in the red. Tesla's stock decreased by over 1%, while Microsoft, Nvidia, Netflix, Google, Amazon, and Meta saw minor declines. Conversely, Intel and Apple experienced slight gains. Apple hit a historic milestone, extending its rally for the fourth consecutive trading day, with a market capitalization reaching $3.92 trillion.

Drone-related companies staged significant rallies, with Lilium jumping over 60% and other players like Palladyne AI, Vertical Aerospace, and Unusual Machines also experiencing substantial increases in share prices.

Chinese stocks listed in the U.S. showed varied results, but the Nasdaq Golden Dragon China Index rose by 0.42%. Among them, Kingsoft Cloud exceeded gains of 14%, and property-focused Fangdd neared a 13% rise. In the realm of electric vehicle stocks, Chinese brands such as Zeekr advanced by more than 8%, Li Auto rose above 3%, Xpeng climbed over 2%, and Nio increased by over 1%.

The commodity markets observed an uptick in international oil prices. On the New York Mercantile Exchange, the price for February 2025 delivery of light sweet crude fell by $0.48, settling at $69.62 per barrel. Brent crude also decreased by $0.32 to $72.85 per barrel. In contrast, precious metals saw an increase, with the COMEX gold futures rising $18.40 per ounce to $2,653.90, marking a 0.70% rise.

On the global front, the President of Panama asserted that the Panama Canal's sovereignty belongs irrevocably to Panama, signaling no renegotiation with the U.S. or offer of toll discounts for U.S. ships.

Tesla's decision to sell a limited-edition item priced at $199 encountered enthusiast reception, selling out in under 15 minutes and subsequently appearing at significantly higher prices on secondary market platforms.

In monetary policy news, signs of easing inflation prompted Turkey's central bank to lower its benchmark interest rate for the first time in nearly two years, with future policy shifts contingent on forthcoming inflation data.