People walk past the New York Stock Exchange Wednesday, March 27, 2024. World shares are mixed after Wall Street slipped a bit further from its record highs. The S&P 500 was up 0.2% in midday trading. It’s on track for its first gain since setting an all-time high last week on Thursday, but all its movements since then have been relatively modest.The Dow Jones Industrial Average was up 228 points, or 0.6%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.1% lower.
Cintas, a provider of work uniforms and office supplies, was another big force pushing the S&P 500 upward. It jumped 9.7% after reporting stronger profit for the latest quarter than analysts expected. On the losing end of Wall Street was Nvidia, which is on track for a second straight loss after screaming 91% higher for the year so far. It sank 3.4%, as some investors may be locking in profits before closing their books for the end of the quarter. Nvidia has been one of the biggest winners of Wall Street’s frenzy around artificial intelligence.
In the bond market, Treasury yields were slipping on a day with few economic reports to shake things up.The week’s highlight for the bond market may be arriving Friday, when the U.S. government releases the latest monthly update on spending by U.S. consumers. It will include the measure of inflation that the Federal Reserve prefers to use as it sets interest rates.
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