by Echo Wang
(Reuters) – The New York Stock Exchange ended mixed on Thursday, after Nvidia’s decline and while investors are still assessing the implications of a drop in weekly jobless claims on the evolution of interest rates.
The Dow Jones index gained 0.8%, or 299.9 points, to 39,134.76 points.
The broader S&P-500 lost 13.86 points, or 0.3% to 5,473.17 points.
The Nasdaq Composite fell by 140.645 points, or 0.8% to 17,721.587 points.
The S&P 500 reached 5,500 points for the first time during the session.
Nvidia, which became the most valuable company in the world on the stock market on Tuesday, erased the gains made earlier in the session.
Investors also learned before the opening that weekly unemployment claims had decreased in the United States.
“What we learned today just demonstrates further weakness in the economy,” said Tom Martin, portfolio manager at Globalt Investments in Atlanta.
The energy and utilities sectors advanced, while the technology sector declined.
Minneapolis Fed President Neel Kashkar said getting inflation back below 2 percent would take a year or two, rekindling fears that interest rates would stay high for longer.
At Stocks Kroger retreated after adopting a cautious tone regarding near-term consumer spending.
Trump Media & Technology Group was also lower after the US Securities and Exchange Commission declared effective the resale request for some of the company’s shares and warrants, suggesting dilution.
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(With the contribution of Shubham Batra and Ankika Biswas; French version Camille Raynaud)
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