Top Movers of the Day
The stock market continued its rally on Thursday, with all major indexes reaching new record highs. The positive sentiment stemmed from the Federal Reserve's continued dovish stance, hinting at potential interest rate cuts later this year. Semiconductor stocks like Micron and Broadcom were among the biggest gainers, while Apple bucked the trend after an antitrust lawsuit. Investors remain cautious about the pace of potential rate cuts, but the overall market sentiment remains optimistic. Micron surged after beating analyst expectations for earnings and revenue. Apple dropped on news of a lawsuit from the Department of Justice. Astera Labs, a data center chip company that just went public, continued to rally. Li Auto and Chewy fell after giving disappointing guidance. Five Below also dropped after reporting weak earnings and revenue. Guess surged after its latest earnings topped forecasts. Darden Restaurants slid after missing revenue expectations. Paramount Global fell after CNBC reported the company is not interested in selling its studio. Accenture and FactSet dropped after their revenue came in lower than expected. Illumina popped after a European Union court advisor said regulators blocked its bid illegally. Broadcom rallied on an analyst upgrade. Revolve Group fell slightly despite an analyst upgrade. Nvidia edged higher after an analyst increased its price target. Sunnova jumped after an analyst reiterated its buy rating. Nextracker gained after an analyst initiated coverage with an outperform rating.