NEW YORK, New York - U.S, stocks made notable gains on Thursday, particularly in the technology sector due to renewed demand for semiconductor stocks. The move higher came despite a breakout of airstrikes across Iran and on U.S. bases in Gulf states.

"It's highly inflationary and highly uncertain," Megan Horneman, chief investment officer at Verdence told CNBC Thursday. "It could end tomorrow. It could turn into a bigger event. We don't know that. So in that event, you just have to be well diversified globally in your equity exposure."

"This is spilling into an ongoing inflation problem for the remainder of this year," she added, saying that it's "not just the oil prices." While the ongoing investment in artificial intelligence may prove to be disinflationary in the long term, she said, "In the near term, all of this investment, strong [economic] growth, a consumer that keeps spending, this is inflationary."

The NASDAQ Composite led the charge, soaring 1.30 percent — a gain of 336.24 points — to finish at 26,206.89, buoyed by strong performances from mega-cap tech names and semiconductor stocks. The tech-heavy index extended its recent winning streak as falling bond yields reignited appetite for growth equities.

The broader Standard and Poor's 500 also posted solid gains, rising 0.81 percent or 60.93 points to close at 7,543.64. Trading volume on the index reached 2.725 billion shares, reflecting robust investor participation. The benchmark flirted with intraday highs of 7,546.89 before settling just off its peak, as all 11 major sectors contributed to the advance.

The blue-chip Dow Jones Industrial Average notched a more modest but still positive finish, climbing 0.27 percent — an increase of 139.02 points — to end the session at 52,487.41. The Dow traded in a range between 52,249.44 and 52,574.89, with 454.763 million shares changing hands, as industrials and financials provided steady support.

"The Nasdaq is clearly the star of the show today," said Daniel Park, senior equity strategist at Horizon Capital Partners. "The combination of cooling Treasury yields and resilient consumer spending data has given tech investors the green light to rotate back into high-growth names. The Dow's more subdued performance reflects some caution ahead of tomorrow's payroll report."

All three major U.S. indexes traded within striking distance of their 52-week highs, with the S&P 500 hovering near its peak of 7,620.90 and the Dow approaching its own record of 53,289.30. The Nasdaq, meanwhile, continued to distance itself from its yearly low of 17,829.76.

Market participants now turn their attention to Friday's U.S. nonfarm payrolls report, which is expected to provide fresh clues on the Federal Reserve's interest rate path. A softer-than-expected reading could fuel further equity gains, while a hot print may reignite inflation fears and curb the current risk-on sentiment.

Global stocks close mixed on Thursday as Canadian and European markets rally, UK and Asia slide

World stock markets delivered a divided performance at Thursday's closing bell, with European bourses surging across the board while Asian indexes stumbled, as investors weighed divergent monetary policy signals and regional economic data, amid a renewed flare-up in U.S.-Iran hostilities.

The pan-European EURO STOXX 50 Index led the charge, jumping 1.28 percent to close at 6,284.27, adding 79.36 points. The rally was echoed in Frankfurt, where the DAX P rose 0.89 percent or 220.82 points to finish at 25,118.27, and in Paris, where the CAC 40 advanced 0.90 percent — a gain of 73.96 points — to settle at 8,326.62.

The Euronext 100 Index also posted solid gains, climbing 1.09 percent to 1,912.74, an increase of 20.59 points. Belgium's BEL 20 edged higher by 0.31 percent to close at 5,647.96, adding 17.66 points.

Canada's S&P/TSX Composite Index joined the rally, advancing 0.76 percent or 264.65 points to settle at 35,200.45. Trading volume on the TSX reached 250.189 million shares, with energy and materials stocks leading the charge as commodity prices remained firm.

London's FTSE 100 bucked the  uptrend, however, slipping 0.16 percent — a loss of 16.59 points — to end the session at 10,472.45, as weakness in energy and mining shares weighed on the index.

Across the Atlantic, the positive European momentum was not mirrored in Asia. Hong Kong's HANG SENG INDEX dropped 0.70 percent, shedding 169.28 points to close at 24,030.18, pressured by ongoing concerns over China's property sector and sluggish retail data.

In Japan on Thursday, the Nikkei 225 was a notable exception in the region, soaring 1.38 percent or 924.80 points to finish at a robust 67,743.85, powered by a weaker yen and strong export-related buying. South Korea's KOSPI Composite Index also advanced, rising 0.62 percent or 45.12 points to 7,291.91.

Elsewhere in Asia-Pacific, Australia's S&P/ASX 200 fell 0.26 percent (down 22.60 points) to 8,762.50, while the broader ALL ORDINARIES declined 0.20 percent or 18.00 points to 8,961.30. Across the Tasman, in New Zealand, the S&P/NZX 50 defied the regional weakness, climbing 0.88 percent or 120.49 points to 13,785.67.

Southeast Asian markets showed resilience. Singapore's STI Index gained 1.20 percent or 64.31 points to end at 5,433.88. In Indonesia, the IDX COMPOSITE rose 0.67 percent to 5,912.44, adding 39.07 points. However, Malaysia's FTSE Bursa Malaysia KLCI slipped 0.35 percent (down 5.97 points) to 1,677.64.

In Greater China, the SSE Composite Index on the Shanghai exchange jumped 1.65 percent — a gain of 65.71 points — to close at 4,036.59, buoyed by government stimulus hopes. Taiwan's TWSE Capitalization Weighted Stock Index bucked the mainland trend, tumbling 0.83 percent or 379.80 points to 45,354.61.

In India, the S&P BSE SENSEX edged up 0.31 percent (plus 238.22 points) to finish at 76,741.82, while Egypt's EGX 30 Price Return Index rose 0.54 percent or 283.10 points to close at 52,311.50, with trading volume of 328.102 million shares.

In Israel, the TA-125 declined sharply, losing 1.12 percent or 45.27 points to end at 4,007.25.

South Africa's Top 40 USD Net TRI Index was among the day's biggest gainers, surging 1.87 percent or 122.41 points to 6,669.30.

"We're seeing a clear rotation out of Asian risk into European equities," Elena Voss, chief market strategist at Meridian Global Advisors said Thursday. "The DAX and CAC are benefiting from a soft-landing narrative in Europe, while Hong Kong and Taiwan are catching headwinds from geopolitical jitters and slowing Chinese consumption."

U.S. dollar slides across the board as global currencies rally on Thursday

The U.S. dollar suffered a broad-based decline against all major trading partners on Thursday, as shifting interest rate expectations and a risk-on sentiment in global markets drove investors away from the greenback.

In a rare uniform move, the dollar lost ground against the euro, the Japanese yen, the British pound, the Australian dollar, the Canadian dollar, and the Swiss franc, according to the latest foreign exchange quotes from the world's leading trading hubs.

The euro advanced firmly against the U.S. currency, with the EUR-USD pair trading at 1.1429, marking a gain of 0.11 percent on the day. The single currency found support after better-than-expected services data out of the Eurozone tempered recession fears.

Against the Japanese yen, the dollar fell sharply. The USD-JPY pair dropped to 162.3700, a decline of 0.14 percent, as traders continued to price in potential intervention by Japanese authorities and a hawkish tilt from the Bank of Japan.

Sterling also posted solid gains, with GBP-USD climbing to 1.3410, up 0.16 percent. The pound extended its recent winning streak as UK wage data reinforced expectations that the Bank of England will hold rates higher for longer.

The commodity-linked Australian dollar rode the wave of risk appetite higher, with AUD-USD rising to 0.6940, an increase of 0.14 percent. The currency benefited from rebounding iron ore prices and a broadly weaker U.S. dollar.

In North American trade, the USD-CAD pair slipped to 1.4170, down 0.02 percent, as oil prices held steady and Canada's economic data surprised to the upside. The move, while modest, extended the loonie's recent recovery from multi-year lows.

The greenback's weakness was most pronounced against the Swiss franc, a traditional safe-haven rival. USD-CHF fell to 0.8070, a drop of 0.19 percent, as investors rotated into the franc amid lingering geopolitical uncertainties.

"The dollar is under pressure across the board," said Marcus Thorne, senior FX strategist at Atlantic Capital Markets. "It's not just one driver—it's a combination of softer U.S. economic prints, dovish Fed commentary, and a general unwinding of long-dollar positions that's hitting every pair simultaneously."

Traders now look ahead to Friday's U.S. payrolls report, which could either stem the dollar's slide or accelerate its decline, depending on the labour market data.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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