Wall Street Stocks Near Records Amid Mixed Finish
Wall Street stocks experienced a mixed finish on Wednesday, hovering near record highs. The S&P 500 index closed at 7,723.55, down 12.97 points or 0.2% from the previous day's close.
The Dow Jones industrial Average rose 263.24 points, or 0.5%, to a new record of 54,349.12. However, the Nasdaq fell 221.55 points, or 0.8%, to 26,363.44, weighed down by declines in big technology companies.
Mark Hackett, chief market strategist at Nationwide, attributed the mixed trading on Wall Street to a 'coiled spring' of investor expectations finally releasing, driving the S&P 500 index to record highs for the first time in two months.
The Walt Disney Co. saw its stock rise by 3.6% after beating Wall Street's profit forecasts due to strong box office and theme park revenue. Booking Holdings jumped 6.6% following a report showing robust travel demand driving growth during its latest quarter.
However, Elon Musk's SpaceX fell 13.6% after releasing its first quarterly report as a public company, which showed significant spending on artificial intelligence.