By Heather Gillers

The Dow Jones Industrial Average rose Thursday while other indexes lagged behind thanks in part to gains in bank and healthcare stocks.

"This is a non-chip rally," said Jay Hatfield, chief executive officer and portfolio manager at Infrastructure Capital Advisors. In morning trading, the Dow is up 1.7%, more than 800 points. The S&P was up less than 0.3%, while the tech-heavy Nasdaq was modestly lower.

Shares in UnitedHealth, a Dow component, rose after Bank of America upgraded the stock. Investors were also likely feeling more sanguine about the conflict in Iran after President Trump Wednesday told aides he wouldn't resume all-out war unless U.S. troops are killed. Oil prices fell.

Financial stocks in the Dow including Goldman Sachs, JPMorgan and American Express saw gains, as did payments giant Visa and consumer stocks like Walmart and McDonald's.

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(END) Dow Jones Newswires

June 04, 2026 11:19 ET (15:19 GMT)

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