The Nasdaq Composite's furious rally to fresh highs has hit the brakes, but the Dow is picking up the torch. The blue-chip index rose 2601 points, or 0.6%, and was only a few hundred points off its Dec.

The S&P 500 and the Nasdaq nudged lower on Thursday, as investors monitored developments around U.S. President Donald Trump's trade policies, while airline stocks jumped following Delta's upbeat forecast.

In recent trading: Major indexes edged higher. The S&P 500 and the Dow industrials rose, while the tech-heavy Nasdaq fell fractionally. Bond yields ground higher. The Treasury is due to auction $22 billion in 30-year bonds today.

Major U.S. equity indexes were heading in different directions on Thursday, with the Dow climbing and the Nasdaq sinking. The Dow got a boost as shares of McDonald's Corp., Caterpillar Inc. and American Express Co.

Futures for the major U.S. stock indexes are pointing toward a mostly unchanged open on Thursday, suggesting a pause after gains in the previous session. Uncertainty surrounding President Donald Trump’s trade policy stance continues to weigh on investor sentiment,

Nvidia stock briefly topped a $4 trillion market cap with Nvidia chipmaker Taiwan Semi on tap. AI plays Astera Labs and Rubrik flashed buy signals.

Follow all the latest U.S. market action for Wednesday here to see if stocks can shake of their tariff anxiety and rally to fresh record highs.