US stocks today: Wall Street rallies after Broadcom selloff as oil prices ease

U.S. stocks moved higher on June 4 after an uneven session that began with weakness in AI-linked shares and ended with the Dow at a record.

Broadcom helped drive the early selling. Investors reacted to the company’s weaker-than-expected revenue outlook and its lack of an upward update to its long-term AI revenue target, which weighed on chip stocks and other parts of the technology sector.

The pressure on AI names came even as the broader market found support from falling oil prices and lower Treasury yields. That combination helped ease concerns about financing costs and inflation pressure, giving non-AI sectors room to advance.

By the close, the Dow had set a record. The S&P 500 finished higher, while the Nasdaq ended slightly lower as AI-related shares continued to lag the rest of the market.

The day’s trading highlighted a split in Wall Street’s leadership: investors remained enthusiastic about the AI trade in general, but they punished stocks that did not meet elevated expectations tied to that theme.

For now, the market reaction suggests traders are still rewarding cheaper energy and lower yields, while demanding stronger proof that AI spending will keep delivering growth.