The U.S. stock market delivered a sharply mixed performance on Thursday as heavyweight technology names dragged major indices lower, even while a wave of smaller growth stocks surged in heavy trading.The Dow Jones Industrial Average managed to edge higher, supported by strength in industrials and financials, but the S&P 500 slipped modestly, and the Nasdaq Composite fell more decisively as investors reacted to disappointing technology earnings.
Tech Stocks Under Pressure After Oracle Miss
The day’s biggest drag came from Oracle, whose shares plunged more than 13% after the company reported quarterly results that fell short of expectations. Rising investment costs tied to its AI initiatives rattled investors already concerned about valuations across the tech sector.
The earnings miss spilled over into broader AI-linked names. Nvidia, a bellwether for the space, dropped around 3%, adding to the pressure on the Nasdaq.
Market analysts noted that enthusiasm for AI-related growth has created pockets of vulnerability when major players fail to impress. Oracle’s results revived questions about whether AI spending will generate near-term returns.
Small-Cap Momentum Ignites Big Gainers
Even as mega-cap tech stumbled, the most eye-catching moves of the session came from smaller, high-volatility names that posted outsized rallies.
Black Titan (BTTC) emerged as one of the day’s most spectacular movers, soaring more than 100% on unusually strong buying activity.
Infrastructure and digital asset firm Mawson Infrastructure (MIGI) also delivered a sharp 50%+ climb, extending recent momentum seen in crypto-adjacent equities.
Meanwhile, consumer and retail-focused AXIL Brands jumped over 40%, continuing a multi-day rebound driven by improving sales indicators.
Earnings winners also participated in the rally. Planet Labs (PL) surged more than 30% after reporting better-than-expected quarterly results. Social media platform Nextdoor (NXDR) gained over 20%, buoyed by improved engagement metrics and advertising performance.
Analysts say the divergence between large-cap weakness and small-cap strength suggests that traders are hunting for value and volatility outside the tech giants that dominated much of the year’s gains.
Heavy Losses in Select Sectors
While the biggest headlines centered around Oracle, several speculative and biotech names suffered punishing declines. Among the steepest was RZLT, which tumbled nearly 90%, likely tied to negative trial news or liquidity shocks common in the small-cap biotech sector.
Overall market breadth showed a bifurcation: many mid- and small-cap stocks advanced strongly, even as high-weight tech components in major indices turned the broader averages red.
Looking Ahead
With economic data and central bank commentary looming, traders appear increasingly selective. The rotation out of mega-cap tech and into smaller growth names could signal a broader shift in market leadership though whether small-caps can sustain the momentum remains uncertain.
For now, volatility remains elevated, and the day’s sharp moves underscore a market searching for direction as year-end approaches.
U.S. stocks edged lower Monday as investors pared risk ahead of a closely watched November jobs report and fresh inflation data later this week. The Dow Jones Industrial Average dipped 0.1%, the S&P 500 slipped 0.2%, and the Nasdaq Composite fell 0.6%, dragged down by renewed weakness in large-cap tech.
