Stocks on Wall Street pulled back from record highs on Thursday due to a mixed set of reports on the economy. The S&P 500 was down 0.4% after setting a record high before the holiday. The Dow Jones rose 0.3%, while the Nasdaq fell 0.9%. Nvidia, a leading AI chipmaker, saw a decline after recently becoming the most valuable company on Wall Street. The technology sector continues to lead the market, with companies like Accenture and Super Micro Computer seeing gains despite weaker-than-expected earnings. This year’s AI stock supernova has helped offset weakness in other sectors, such as real estate and manufacturing. Treasury yields rose following mixed economic reports, with hopes of a US economic slowdown to control inflation. The Federal Reserve may cut interest rates to support the economy. Global central banks are also adjusting rates, with the Swiss National Bank cutting rates and the Bank of England keeping rates stable. Stock indices across Europe rose in response to these moves. Asian indices were mixed.
Article Source
https://apnews.com/article/stock-markets-rates-inflation-e07666093f7862aadcdecbf5c6ad97a6
Mixed trading causes stocks to ease back from record highs on Wall Street today.
