The Dow Jones Industrial Average edged higher Thursday, climbing 88.62 points, or 0.17%, to 52,747.26, as investors continued rotating into industrial and blue-chip names even as technology and semiconductor stocks struggled to build on recent momentum.

The modest gain extended a two-day winning streak for the 30-stock index, which closed Wednesday up 150.37 points, or 0.29%, at 52,658.64. That session saw the S&P 500 and Nasdaq Composite both post stronger gains, rising 0.38% and 0.62%, respectively, as investors digested a softer-than-expected wholesale inflation reading and a bullish outlook from Dutch chip equipment maker ASML.

Thursday's session unfolded with more caution across broader markets, even as the Dow pushed modestly higher. S&P 500 futures slipped 0.2% and Nasdaq 100 contracts dropped 0.8% ahead of the opening bell, as traders weighed whether recent earnings results justified further gains in artificial intelligence-related stocks. A strong earnings beat and raised sales outlook from Taiwan Semiconductor Manufacturing failed to translate into fresh gains for the broader chip sector, a dynamic that has fueled much of this year's stock market advance. Europe's Stoxx 600 index was down 0.6% in early trading, while Asia's technology-heavy indexes had another volatile overnight session.

The divergence between the Dow's modest advance and weakness in more tech-heavy benchmarks reflects a broader rotation that has played out across markets in recent sessions, with investors shifting money away from semiconductor stocks that have led this year's rally and into other sectors, including industrials and select technology names less exposed to chip........

© International Business Times