S&P and Nasdaq Lower, Dow Rises For 4th Day
US stocks were mixed on Thursday, with the S&P 500 trading around the flatline after touching an intraday record high the day before and the Nasdaq losing 0.5% while the Dow Jones gained about 55 points, on track for a 4th straight session of gains.
Traders took a breather after enthusiasm around Trump's pro-growth policies and the AI investment plan sent stocks high. Investors also await Trump's video call at the World Economic Forum in Davos. On the data front, initial claims continued to point to a cooling although robust labour market.
The tech sector was the worst performer. Nvidia (1.9%), Microsoft (-0.8%), Amazon (-1%) and Broadcom (-1.4%) were in the red. Meanwhile, the earnings season continues with shares of American Airlines sinking about 7.6% after forecasting a surprise first-quarter loss. General Electric on the other hand, jumped 8% before the opening bell after beating on earnings.
Source: Trading Economics