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Dow Jones climbs 1.73% to record high as S&P 500 rises 0.41%

On Thursday, Dow Jones Industrial Average jumped 1.73%, reaching a record closing high, driven by optimism about possible resolutions to conflict in Iran. This upbeat momentum gained additional support when U.S. House of Representatives approved a measure aimed at restricting President Donald Trump's military actions in the area.

BRIC Team
BRIC Team
Jun 5, 2026 · 1 min read · 1 views
Dow Jones climbs 1.73% to record high as S&P 500 rises 0.41%

Key Takeaways

  • •The Dow Jones Industrial Average surged 1.73% on Thursday, reaching a record closing high amid optimism over the Iran conflict.
  • •Broadcom's shares dropped 12.6% after disappointing quarterly results, raising concerns about the chip sector's sustainability.
  • •The U.S. House of Representatives passed a measure on Thursday to prevent President Trump from escalating military actions in Iran.
  • •Weekly jobless claims exceeded expectations, signaling ongoing labor market concerns amid rising layoffs due to AI advancements.
  • •Paul Nolte stated, 'About the only blemish on the market at this point is Broadcom,' reflecting investor sentiment on the chip market.

Wall Street jumped Thursday,optimism over possible Iran conflict resolutions driving the rally. Dow Jones Industrial Average hit record close, lifted by healthcare,financial stocks . It surged 1.73%, while S&P 500 edged up 0.41%. Meanwhile, Nasdaq Composite slipped down 0.09%.

Chip sector, which has fueled market enthusiasm this year, hit a snag after Broadcom posted weak quarterly results . Shares tumbled 12.6%, sparking doubts about chip rally's strength — stocks in sector have jumped 92% in 2023. Paul Nolte,senior wealth adviser at Murphy Sylvest in Illinois,noted, “About the only blemish on the market at this point is Broadcom,and I think investors are buying dip.” Unclear if investors truly questioning chip market valuations.

And adding to market's layers, U.S. House of Representatives passed a bill to stop President Donald Trump from escalating military moves in Iran. This,along with a U.S.-brokered ceasefire between Israel and Lebanon,helped boost investor mood .

Elsewhere,CrowdStrike struggled as its quarterly operating costs climbed,dragging down its stock. Plus, weekly jobless claims topped forecasts, underscoring labor market worries amid rising layoffs tied to AI advancements…

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