Dow, S&P 500 post record closes; Oracle drags on Nasdaq
The S&P 500 and Dow Jones closed at record highs Thursday, driven by financial stocks after a less hawkish Federal Reserve. The Nasdaq lagged as Oracle's AI spending concerns and weak forecasts caused its shares to tumble, fueling fears of an AI bubble. Market rotation favored cyclicals and small caps amid anticipation of global growth reacceleration.