The S&P 500 (SPX) rallied to yet another record high on Thursday following the first day of the Trump-Xi summit.
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New trading tool for QQQ bullsLet’s break down the sectors behind the performance.
Today’s Top-Performing Sector
Information technology was the top-performing sector on Thursday. Cisco (CSCO) topped the charts after its first-quarter earnings beat on both revenue and EPS, powered by strong demand for AI infrastructure. Broadcom (AVGO) was also a top performer after Wells Fargo analyst Aaron Rakers raised his price target to $545 from $430.
Several information technology stocks led the sector’s gains, including:
- Cisco (CSCO)
- AppLovin (APP)
- Broadcom (AVGO)
- Hewlett Packard Enterprise (HPE)
- Zebra Technologies (ZBRA)
Today’s Worst-Performing Sector
Meanwhile, the materials sector faced the largest drawdown as investors rotated out of cyclical stocks and into higher-growth areas of the market. A decline in gold (XAUUSD) and silver (XAGUSD) prices also weighed on mining stocks, while a stronger dollar added pressure across the sector.
Notable materials stocks trading lower include:

