GLOBAL MARKETS: Oil dips, stocks mixed as Broadcom drags tech

NEW YORK — Global stocks were flat in choppy trading on Thursday as European gains offset a mixed session on Wall Street, as investors weighed a snag in the AI momentum and a ceasefire between Israel and Lebanon that pushed oil prices lower.

The benchmark S&P 500 and the Dow were higher while the Nasdaq lost ground, with technology shares driving losses and healthcare stocks leading gains.

The Dow Jones Industrial Average rose 1.70%, the S&P 500 rose 0.25%, and the Nasdaq Composite fell 0.17%.

Shares in Broadcom tumbled more than 14%, pulling semiconductor stocks broadly lower, after the chipmaker's results disappointed investors who had bet on surging demand for its custom AI chips.

Europe's bourses rose 0.42%. MSCI's gauge of stocks across the globe fell 0.01%.

"We saw a little pocket of weakness in the chip stocks with the disappointing news from Broadcom last night," said James St. Aubin, chief investment officer at Ocean Park Asset Management in Santa Monica, California.

"Today's action in tech specifically is emblematic of how fragile sentiment can be for a group of stocks that experience massive gains in a short period of time."

Brent crude prices dropped 3%, to back below $95 a barrel.

However, US President Donald Trump's efforts to ​halt fighting in Lebanon were undermined after the pro-Iran Hezbollah movement rejected the new ceasefire and Israel said it would not withdraw troops from the country. — Reuters