Dow Is Closing In on 40K

Stocks extended their push to record heights Thursday on Wall Street, with the Dow closing on the 40,000 mark:

• The Dow rose 269 points, or 0.7%, to 39,781.
• The S&P 500 rose 16 points, or 0.3%, to 5,241.
• The Nasdaq rose 32 points, or 0.2%, to 16,401.

Reddit was the day's hottest stock in its Wall Street debut, but the tech industry also boosted the markets. Micron surged 15.2% and led chipmakers higher after reporting much stronger results for its latest quarter than expected. Chipmaker Broadcom jumped 7% and was an even stronger force pushing the S&P 500 upward. It held an investor presentation a day earlier on its opportunities in AI. They helped to more than offset a 4.3% slump for Apple after the Justice Department announced an antitrust lawsuit against the iPhone maker.

Accenture was another weight on the market after dropping 8.8%. The consulting and professional services company reported stronger profit for the latest quarter than analysts expected, but its forecast for profit over this full fiscal year fell short of estimates. And Olive Garden owner Darden Restaurants fell 6.7% after its revenue forecast for the full fiscal year came up shy of expectations.

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