NEW YORK — U.S. stocks drifted to a mixed finish, though the modest moves for indexes masked some thrashing underneath the surface. The S&P 500 ended barely changed Wednesday after trading lower for much of the day. The Nasdaq composite slipped 0.1%, and the Dow Jones Industrial Average eked out a gain of 0.3%. Target led the market lower and lost more than a fifth of its value after the retailer gave a dour forecast for the holiday shopping season.
Target’s performance stood in stark contrast to rival Walmart, which reported another quarter of stellar sales Tuesday and released optimistic projections for the holiday season. On the winning end of Wall Street was Williams-Sonoma, which jumped 27.4% after the home retailer delivered better profit and revenue for the latest quarter than analysts expected. The parent of Pottery Barn also said it expects overall sales to fall by less this fiscal year than it had earlier forecast.
So far, Nvidia has hurdled such expectations with impressive results each quarter. That’s made it one of the most influential stocks in the market, whose movement can almost singlehandedly alter the S&P 500’s direction.
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