US stocks opened near the flatline on Thursday, hitting pause after hitting fresh record highs, as investors cheered chipmaker Arm's outlook and looked for fresh impetus in the latest batch of corporate results. The S&P 500 (^GSPC) slipped almost 0.1%, after the major benchmark closed just a few points shy of hitting 5,000 for the first time ever. The Dow Jones Industrial Average (^DJI) opened just above the flatline, while the tech-heavy Nasdaq (^IXIC) dipped 0.1%.
Stocks have rallied as robust economic data and upbeat earnings have lifted spirits on Wall Street, helping the benchmark S&P 500 close in on the key psychological level. But some investors are questioning whether gains can be sustained, given the concentrated group of megacaps driving them. Shares in Arm (ARM) soared over 25% in premarket trading, boosting hopes that AI and techs will keep buoying the market. The chipmaker gave a surprisingly bullish forecast based on its expansion into new area
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