Wall Street saw a mixed finish on Thursday, with the Dow Jones rising over three-quarters of a percentage point, the S&P 500 slipping a quarter of a percentage point after hitting a record high, and the Nasdaq losing about eight-tenths of a percentage point. Despite some early gains, market leader Nvidia fell 3.5% by the end of the session.
Economic data released on Thursday showed a decrease in the number of Americans filing new claims for unemployment benefits, but the total number of unemployed individuals reached its highest level since January. Additionally, single-family home construction dropped in May due to high mortgage rates. However, experts like Liz Miller of Summit Place Financial Advisors believe that declining rates will encourage more activity in the housing sector.
Stocks on the move included Nvidia, Dell, and Super Micro Computer, which all experienced fluctuations throughout the day. Kroger shares fell more than 3% after expressing caution about near-term consumer spending, while maintaining its full-year profit and same-store sales forecasts. Trump Media & Technology Group also saw a significant decline of 14.5% after the SEC approved the company to issue more shares, potentially diluting its value.
Overall, Thursday’s market performance reflected a mix of positive and negative trends, with investors closely monitoring economic data and corporate earnings reports. The volatility in the technology sector, particularly with companies like Nvidia and Super Micro Computer, underscores the ongoing uncertainty in the market. Despite challenges in the labor and housing markets, experts remain optimistic about future growth and activity in key sectors like construction and technology.
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