S&P 500 futures pointed to a mixed tone in the markets on Thursday as major stock indexes ended the session with varied performance. While the Dow Jones Industrial Average and the S&P 500 both closed at record highs, the Nasdaq finished lower, pressured by Oracle’s results that weighed on AI-associated stocks. The Dow climbed 1.3%, or nearly 650 points, reaching a new closing milestone after touching an all-time intraday peak earlier in the day. This rise was supported by strong investor interest in non-tech blue-chip names such as Visa, Home Depot, and UnitedHealth Group. The benchmark index also recovered from earlier losses to finish 0.2% higher, securing another record close, whereas the tech-heavy Nasdaq ended down 0.3%.

The previous trading day saw the Dow, S&P 500, and Nasdaq advance 1.1%, 0.7%, and 0.3%, respectively, following the Federal Reserve’s decision to cut its key interest rate by a quarter-percentage point, lowering the target range to 3.5%–3.75%. However, sentiment shifted after Wednesday’s closing bell when Oracle reported elevated capital expenditures alongside revenue and operating income that fell short of Wall Street expectations. Oracle’s stock dropped nearly 11% on Thursday, dragging down the broader AI sector, with chipmakers Nvidia and Micron Technology also affected, closing lower by 1.5% and 2%, respectively.

Broadcom shares slipped 1.6% ahead of its earnings release scheduled for after Thursday’s close, while Costco Wholesale shares gained 1.2% in anticipation of its results due later the same day. Coca-Cola traded 1.6% lower following news that CEO James Quincey will step down in March, with operating chief Henrique Braun set to take over. Meanwhile, Walt Disney shares advanced 2.4% after the company announced a $1 billion investment in OpenAI and granted approval for the use of its copyrighted characters on the AI video platform Sora.

Economic data also influenced market movements. An unexpected rise in weekly jobless claims and a narrowing U.S. trade deficit to its lowest level since the pandemic contributed to fluctuations in Treasury yields. The 10-year Treasury yield, a key benchmark for commercial and consumer borrowing rates, fell to roughly 4.10% from 4.15% at Wednesday’s close before returning to 4.15% by 4 pm. Bitcoin traded near $91,800, down from an overnight high of almost $92,800, while the U.S. dollar index fell 0.5% to 98.31, its lowest level since October. Gold futures gained nearly 2% to $4,305 per ounce, and West Texas Intermediate crude futures declined 1.2% to $57.80 per barrel.