NEW YORK — U.S. stock indexes are drifting in mixed trading as Nvidia regresses a bit more. The S&P 500 was flat in the early going Monday, still near its record set last week. The Dow Jones Industrial Average was up 89 points, and the Nasdaq composite was down 0.1%. Nvidia has been pulling back since the AI chip company briefly overtook Microsoft to become Wall Street’s most valuable company last week. It’s coming off its first losing week in the last nine. RXO jumped 13.
Under Armour shares fell 1.6% before the bell after the shoe and athletic wear company agreed to settle charges that CEO Kevin Plank hid faltering performance from investors. Under Armour, which denied wrongdoing, will pay $434 million to settle the class actions suit brought by investors. While most analysts still expect a rate cut this year, that's far fewer than the handful of cuts they had been projecting.
Overall output growth hit a 26-month high, according to S&P Global’s preliminary reading of activity among U.S. manufacturing and services businesses. Perhaps more importantly for Wall Street, that strength may be happening without a concurrent rise in pressure on inflation.
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Stock market today: Nvidia climbs to Wall Street's mountaintop as stocks broadly driftNEW YORK (AP) — U.S. stocks edged up to more records following the latest signal that the economy’s growth may be slowing without cratering, while Nvidia continued its rocket ride upward to become Wall Street’s most valuable company.
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Stock market today: Wall Street drifts as Nvidia loses some more momentumNEW YORK (AP) — U.S. stocks drifted to a quiet close of the week, as Nvidia’s stock continued to cool from its startling, supernova run. The S&P 500 slipped 0.2% Friday, though it’s still near the all-time high it set on Tuesday.
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Stock market today: Nvidia keeps flying and helps keep Wall Street near its recordsNEW YORK (AP) — Nvidia, the chip company that’s become Wall Street’s most influential stock, is rising again and helping to keep U.S. indexes around their record highs despite a mixed set of reports on the economy. The S&P 500 was up 0.
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Stock market today: Wall Street ticks higher as Nvidia, GameStop and others leapNEW YORK (AP) — Most stocks are ticking higher as Wall Street approaches its recently set records. The S&P 500 was up 0.4% in early trading, coming off its sixth winning month in the last seven.
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Wall Street mixed as Nvidia retreat hits tech stocks; payrolls data in focusThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
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