S&P, NASDAQ Steps Back from Recorder - InvestingChannel

S&P, NASDAQ Steps Back from Recorder

The S&P 500 was lower on Wednesday, pulling back from a record reached in the previous session, as Nvidia cooled off from its red-hot rally to start 2024.

The Dow Jones Industrials improved 38.68 points to conclude Wednesday at 39,044.17

The broader index slid 9.96 points to 5,165.31.

The NASDAQ tumbled 87.87 points to 16,177.77.

Nvidia shares were down 1.1%. Shares of Meta and Apple fell marginally. Elsewhere, Dollar Tree lost 14% after the discount retailer released its fourth-quarter results. Investors will get more inflation data Thursday in the form of the producer price index for February.

Wall Street is coming off a winning session, with S&P 500 and NASDAQ popping more than rallied more than 1% on Tuesday, after February U.S. inflation data came in about in line with expectations.

Investors will get more inflation data Thursday in the form of the producer price index for February.

Prices for the 10-year Treasury lost ground, boosting yields to 4.19% from Tuesday’s 4.15%. Treasury prices and yields move in opposite directions.

Oil prices jumped $2.20 to $79.76 U.S. a barrel.

Gold prices spiked $11.80 to $2,117.90.

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