U.S. Stock Market Advances as Tech and Chipmakers Spark Intraday Rally
Major U.S. stock benchmarks traded higher during Thursday’s session, driven by a surge in semiconductor and technology shares following upbeat corporate revenue outlooks in the chip sector. While tech-heavy indices posted solid gains, broader market movement remained relatively muted. At the time of writing, the Dow Jones Industrial Average (DJIA) was up 77.43 points (+0.14%) at 53,541.31. Meanwhile, the S&P 500 gained 48.52 points (+0.63%) to reach 7,724.22, and the Nasdaq Composite jumped 366.54 points (+1.40%) to hover around 26,496.74.
Dow Jones Industrial Average
Dow Jones Industrial Average (DJIA) gained during the session but fundamentally remains locked in a sideways consolidation. There is no major change to the latest technical situation, and overall price action remains range-bound. If the index resumes its downward trajectory, the primary ascending trendline is the key target to watch for potential support.
Bank of America Corporation (BAC)
Shares of Bank of America Corporation (BAC) traded lower today, printing a new lower low as price action extends its downward move. The stock appears headed toward a key support cluster comprising the daily EMAs and the previously broken swing high zone. Key Fibonacci retracement levels also align near these technical areas. If share prices reach this support zone and display strong bullish reactions, traders could consider evaluating long positions.