What’s going on here?

US stocks rose on Thursday as tech and utility shares led the charge, while Apple shined thanks to stronger-than-expected demand for its new iPhone 17 Pro.

What does this mean?

Major US indexes closed the day in the green: Nasdaq climbed 0.57%, the S&P 500 gained 0.47%, and the Dow Jones edged up 0.43%. Tech and utilities powered the rally, even as energy stocks lost ground. Apple jumped 3.1% after high appetite for the iPhone 17 Pro cleared out shelves across Asia and Oceania, according to Bloomberg – leaving only the iPhone Air in stock. Elsewhere, investors watched US–China developments closely after President Trump cited progress with President Xi on trade and the TikTok saga. Gold added 1.07% to $3,717.4 per ounce as some investors hedged their risk, while oil futures slipped 1.31% to $62.74, despite a small increase in US oil rigs suggesting steady supply.

Why should I care?

For markets: Tech steals the stage.

Tech and utilities helped steady US indexes as energy lagged, showing how investors may be rotating toward growth and defensive sectors. Apple’s climb underscored the market’s continued hunger for reliable growth names, helping to push the CBOE Volatility Index down to 15.67 – a sign of reduced investor nerves even as global stories stay in the spotlight. Slightly higher Treasury yields point to confidence in the economy’s direction, though some are still seeking out traditional safe havens like gold.

The bigger picture: Policy progress and sector shifts ahead.

Trade talks between the US and China continue to shape the broader environment, with high-profile issues like TikTok in focus and ripple effects across global markets. The steady growth in US oil and gas production, despite weak oil prices, highlights ongoing challenges in balancing supply and demand. Together, these trends show just how important it is for investors and companies to keep adapting as sector leadership and global policies evolve.

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