Wall Street Stocks Make Mixed Finish, Remain Near Records
Stocks on Wall Street made a mixed finish on Wednesday, but remained close to their records. The S&P 500 fell 12.97 points, or 0.2%, to close at 7,723.55 after surging to a record the previous day.
The Dow Jones industrial Average rose 263.24 points, or 0.5%, to 54,349.12, reaching another record. The Nasdaq fell 221.55 points, or 0.8%, to 26,363.44 due to big technology companies losing ground.
Google's parent company, Alphabet, dropped 4% and Microsoft fell 1.1%. However, Nvidia saw a 3.4% boost after SpaceX announced it would exclusively use the company's chips for its artificial intelligence technology.
Booking Holdings jumped 6.6% after reporting strong travel demand drove profit and revenue growth during its most recent quarter. The Walt Disney Co. rose 3.6% after easily beating Wall Street's profit forecasts, helped by a $1 billion box office haul from 'Toy Story 5' and theme park revenue.
Elon Musk's SpaceX fell 13.6% following the release of its first quarterly report as a public company, which showed sharply boosted spending on artificial intelligence.
Treasury yields slipped in the bond market, with the yield on the 10-year Treasury dropping to 4.61%. Oil prices held steady, with Brent crude falling 0.1% to $79.45 per barrel.