Dow Jones hits record high third time in August

US indices closed on a mixed note on Thursday, driven by economic data supporting the possibility of a soft landing scenario and alleviating investors' recession concerns. However, tech stocks faced downward pressure following Nvidia disclosure of Q2 results.

The Dow Jones Industrial Average rose 0.6%, or 243 points, to settle at 41,335 points, hitting a record high for the third time in August.

The S&P 500 index kept flat at 5,591 points, while the Nasdaq Composite Index fell 0.25%, or 39 points, to 17,516 points.

Nvidia stock dropped 6.4% to $117.59, marking its 12-day low. As a result, the chipmaker's market value fell below $2.9 trillion.

As for European markets, the STOXX Europe 600 rose 0.75% to 524.57 points.

The British FTSE index was up 0.45% to 8,379 points, and the French CAC 40 index gained 0.85% to 7,640 points. The German DAX index also added 0.7% to 18,912 points.

The Nikkei index closed below 38,362 points, and the broader Topix index stabilized at 2,693 points.

Brent crude futures for October delivery rose 1.65%, or $1.29, to $79.94 per barrel.

WTI crude for October delivery increased 1.85%, or $1.39, to $75.91 per barrel.

Regarding gold, futures prices for December delivery were up 0.9%, or $22.5, to $2,560.3 per ounce.

Initial claims for US unemployment benefits declined by 2,000 to 231,000 applications in the week ended Aug. 24.

This missed forecasts for a larger drop to 230,000 in initial jobless claims, compared to the previous week’s reading, which was revised upwards by 1,000 to 233,000 applications.