New York’s three major stock indices closed mixed on Thursday.
While the Dow Jones Industrial Average, comprising 30 blue-chip stocks, declined, the S&P 500 and Nasdaq rose for the third consecutive day.
Nvidia led the tech sector’s rally, surging over 3% on the day.
Meanwhile, Tesla fell for the second consecutive day amid fears that it could become a target in the ongoing trade tensions.
Three-day winning streak
Despite a slight dip in the Dow, the S&P 500 and Nasdaq have been on an upward trend since Tuesday.
The S&P 500, which broadly reflects market conditions, closed up 22.09 points (0.36%) at 6,083.57, while the tech-heavy Nasdaq gained 99.66 points (0.51%) to finish at 19,791.99.
The CBOE Volatility Index (VIX), often called Wall Street’s “fear gauge,” dropped for the third day in a row.
The VIX spiked to 18.62 on Monday amid concerns over President Trump’s trade war. However, it fell to 15.50, down 0.27 points (1.71%).
Over the past three days, the VIX plummeted by 3.12 points (16.8%).
Meta extends winning streak to 14 days
Only Tesla saw declines among the “Magnificent Seven” tech giants, and this was due to concerns that it might become a trade dispute victim.
Tesla closed down $3.85 (1.02%) at $374.32, dropping 4.6% over two days since hitting $392.21 on Tuesday.
In contrast, Nvidia continued its three-day rally, jumping $3.85 (3.08%) to $128.68.
Nvidia has surged 10.3% over the past three days.
Meta Platforms, which promotes open-source AI, extended its record-breaking run. On Tuesday, it broke the $700 barrier for the first time, closing at $711.99, up $7.12 (1.01%).
Since January 17, Meta has seen 14 consecutive days of gains, with its stock price soaring 16.47% during this period.
Oil prices slip for second straight day
International oil prices continued their downward trend, following a more than 2% drop the previous day.
The decline was triggered by Trump’s remarks at the National Prayer Breakfast, where he pledged to work on lowering oil prices.
Brent crude for April delivery, the international benchmark, fell $0.32 (0.43%) to $74.29 per barrel.
U.S. benchmark West Texas Intermediate (WTI) for March delivery settled at $70.61 per barrel, down $0.42 (0.59%).
