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The Dow Jones Index gained 560 points or 1.09 percent on Thursday to close at 52182 points. Gains were led by Nike (5.30%), Salesforce (4.57%) and Home Depot (4.25%).

The Dow Jones Index Closes 1.09% Higher

The Ibovespa fell 1.1% to close at 204,324 on Thursday as investors reassessed the political outlook ahead of Brazil’s presidential runoff later this month. New polls showed Flávio Bolsonaro’s lead over President Lula narrowing, tempering optimism that had fueled a rally in Brazilian assets last week after the senator unexpectedly finished ahead of Lula in the first round. Although Flávio Bolsonaro has yet to present detailed policy plans, investors view him as more likely to pursue fiscal reforms, including spending cuts, which are seen as essential to lowering interest rates. However, questions remain about the fiscal discipline of a potential Flávio administration. Political pressure has already prompted the candidate to change his position and support ending the six-days-on, one-day-off work schedule, which the Senate approved yesterday. Among the notable laggards, Itaú fell 1.3%, Banco do Brasil gained 1.8%, Axia and Petrobras each lost 1.3%, and WEG dropped 2.7%.

Ibovespa Slides Following Election Runoff Polls

The S&P/TSX Composite Index rose 1.5% to close at 36,137 on Thursday as banking and technology stocks rebounded sharply from earlier losses. Lower global bond yields boosted risk appetite after a selloff in Wall Street chipmakers drove investors toward safe-haven assets such as government bonds. Canada’s benchmark 10-year bond yield fell about 8 basis points, supporting broad-based gains across sectors. Interest-rate-sensitive stocks advanced, with RBC up 1.1%, TD Bank gaining 1.5%, and National Bank rising 1.9%. Retailers also gained, with Loblaw jumping 5% and Dollarama advancing 2.7%. Meanwhile, the selloff in chipmakers slowed sharply, while US hyperscalers mostly closed higher, lending support to Canadian technology stocks. Shopify rose 2.9%, Constellation Software jumped 4.6%. Celestica closed 3.1% lower, trimming losses. Rising gold and silver prices boosted mining shares, with Agnico Eagle gaining 5.7%, Barrick adding 4%, and WPM rising 2.5%.

TSX Rises as Banks and Tech Stocks Rebound

US stock indices closed higher on Thursday, rebounding from earlier losses as the selloff in AI infrastructure stocks eased. The S&P 500 gained 0.3%, the Nasdaq closed near flat, and the Dow added 557 points. Chipmakers and AI hyperscalers pared losses after Nvidia CEO Jensen Huang pushed back against concerns about CoreWeave (+5.9%), saying he did not believe the company would need a bailout from Nvidia. The data center firm is an important test case for the viability of businesses emerging to meet surging demand for AI computing. Companies like CoreWeave have borrowed heavily with support from suppliers, including Nvidia (-1.8%), fueling concerns that circular financing may be creating artificial demand. Most hyperscalers closed higher, with Microsoft up 1.1% and Oracle gaining 3%. The chip selloff slowed sharply, with Broadcom down 0.6%, AMD losing 1.5%, while Micron rose 1.9%. The Dow was supported by a rally in Treasuries after a rout that had propelled yields to multi-year highs.

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