Tech Stock Buyers Emerge as Shutdown Extends: Markets Wrap

The bullish momentum in US technology stocks won out after a rally to fresh highs was tested by the Trump administration’s plan to slash “thousands” of federal jobs in the second day of a government shutdown.

The Nasdaq 100 ended Thursday higher, climbing to a second-consecutive record after an OpenAI share sale bolstered optimism for artificial intelligence. The deal catapulted the firm to the world’s most valuable startup with a valuation of $500 billion. The Philadelphia Semiconductor Index jumped 1.9%, led by Advanced Micro Devices Inc. and Intel Corp. The S&P 500 eked out a 0.06% gain, erasing a 0.3% drop. ...