Stock indexes drifted to a mixed finish Thursday on Wall Street as some slipping heavyweight technology and communications sector stocks offset gains elsewhere in the market.
- The Dow rose 0.1%, adding 28.77 points to settle at 43,325.80.
- The S&P 500 slipped less than 0.1%, 2.45 points, to close at 6,037.59.
- The Nasdaq fell 0.1%,10.77 points, to close at 20,020.36.
Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.2%, the AP reports. Meta Platforms fell 0.7%, and Amazon and Netflix each fell 0.9%. Tesla was among the biggest decliners in the S&P 500, finishing 1.8% lower. Some tech companies fared better. Chip company Broadcom rose 2.4%, Micron Technology added 0.6%, and Adobe gained 0.5%. Health care stocks were a bright spot. CVS Health rose 1.5%, and Walgreens Boots Alliance added 5.3% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 3%, Ross Stores added 2.3%, Best Buy rose 2.9%, and Dollar Tree gained 3.8%.
Traders are watching to see whether retailers have a strong holiday season. The day after Christmas historically ranks among the 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins. US-listed shares in Honda and Nissan rose 4.1% and 16.4%, respectively. The Japanese automakers announced earlier this week that the two companies are in talks to combine. Wall Street got a labor market update. US applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years, the Labor Department reported. Trading was expected to be subdued this week with a thin slate of economic data on the calendar. (More Wall Street stories.)
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