Thursday, U.S. benchmark crude oil fell 18 cents to $58.31 per barrel. Brent crude, the international standard, shed 16 cents to $62.55 per barrel.
The U.S. dollar fell to 154.55 Japanese yen from 154.70 yen. The euro rose to $1.1630 from $1.1594. Shares in airlines jumped on expectations of a recovery in air travel following the end of the shutdown.
Advanced Micro Devices led the market, gaining 9% after its CEO, Lisa Su, said the chip company expects better than 35% of annual compounded revenue growth over the next three to five years. She credited “accelerating AI momentum.”
Stocks benefiting from the artificial-intelligence frenzy have been shaky recently, as investors question whether they can add to already spectacular gains.
They are one of the top reasons the U.S. market has hit records despite a slowing job market and high inflation. Their prices have shot so high, though, that critics say they’re reminiscent of the 2000 dot-com bubble, which ultimately burst and dragged the S&P 500 down by nearly half.
Nvidia came into the day with a 4.6% drop for the month so far, for example, after its stock price more than doubled in four of the last five years. The biggest player in AI chips swung between gains and losses throughout Wednesday. Palantir Technologies, another AI darling, fell 3.6% for one of the day’s larger losses in the S&P 500.
Similar questions about prices are dogging much of the U.S. market, though not as pointedly as for Big Tech and AI superstars.
In other dealings early Thursday, U.S. benchmark crude oil fell 18 cents to $58.31 per barrel. Brent crude, the international standard, shed 16 cents to $62.55 per barrel.
The U.S. dollar fell to 154.55 Japanese yen from 154.70 yen. The euro rose to $1.1630 from $1.1594.
