Stocks closed with mixed results on Wall Street after some late-day selling. The S&P 500 was essentially flat after giving up an earlier gain of nearly 1%. The Nasdaq fell 0.2%, while the Dow Jones Industrial Average managed a gain of 243 points, or 0.6%. Nvidia weighed on the market with a drop of 6.4%. Its stellar results for the second quarter failed to meet the lofty expectations of some analysts. On the economic front, the Commerce Department upgraded its assessment of U.S.
The market’s gains came despite a drop in Nvidia, which has ridden the frenzy over artificial intelligence to become one of the S&P 500’s most influential companies. Its shares fell 6.4% despite stellar results for the second quarter. The stock, with a total market value topping $3 trillion, is still up 138% in 2024.
The mostly solid earnings and economic growth updates are capping off a month of encouraging reports for the broader economy. Data from various reports in August have shown that retail sales, employment and consumer confidence remain strong. The solid economic data and easing of inflation have bolstered hopes for the Federal Reserve to achieve what it hopes is a “soft landing” for the economy after raising its benchmark interest rate to a two-decade high. The goal was to slow the economy and tame inflation without causing a recession.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street rises as market focus turns from Nvidia to the US economyNEW YORK (AP) — Stocks rose on Wall Street Thursday as markets shift their focus back to the U.S. economy. The S&P 500 rose 0.8% in morning trading and is less than 1% away from its record set in July.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street rises as market focus turns from Nvidia to US economyNEW YORK (AP) — Stocks rose on Wall Street Thursday as markets shift their focus back to the U.S. economy. The S&P 500 rose 0.6% in morning trading, while the Dow Jones Industrial Average added 137 points, or 0.3%. The Nasdaq rose 1.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street opens higher as market focus turns from Nvidia to US economyNEW YORK (AP) — Wall Street is opening with gains as markets shift their focus back to the U.S. economy. The S&P 500 rose 0.4% in early trading Thursday, while the Dow Jones Industrial Average added 148 points, or 0.4% and the Nasdaq rose 0.8%.
Source: SooToday - 🏆 8. / 85 Read more »
Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surgesLOS ANGELES (AP) — Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than im
Source: SooToday - 🏆 8. / 85 Read more »
Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surgeLOS ANGELES (AP) — Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than im
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Losses for Big Tech companies lead Wall Street lowerLosses for several big technology companies pulled the stock market lower. The S&P 500 fell 0.6% Wednesday, weighed down by drops in Nvidia, Apple, Microsoft and Amazon. The Dow Jones Industrial Average fell 0.4%.
Source: SooToday - 🏆 8. / 85 Read more »