Tech shares lift major U.S. stock indexes as bond yields ease

Major U.S. stock indexes recovered earlier-week losses Thursday as bond yields eased and technology shares rallied. The S&P 500 rose 1.1%, the Dow Jones Industrial Average gained 1.2% and the Nasdaq composite advanced 1.4%.

Nvidia rose 1.8% after announcing a $13 billion purchase of artificial intelligence platform Hugging Face. Snowflake jumped 16.6% after reporting stronger-than-expected quarterly results, while Broadcom fell 2.7% despite beating estimates and forecasting higher AI chip revenue.

Oil prices remained elevated amid intensified fighting between the United States and Iran, adding to inflation pressures. Brent crude settled at $95.52 a barrel, while U.S. crude closed at $91.30. The 10-year Treasury yield fell to 4.77%, a move that can influence mortgage rates, and investors lowered their expectations for a Federal Reserve rate hike at its upcoming meeting.

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