The Dow Jones Industrials gave up 271.70 points to open Thursday at 39,399.94. Intel and Boeing both dropped more than 2%, dragging the 30-stock index lower.
The S&P 500 poked ahead 2.61 points to 5,309.62, after hitting a record high earlier during the session.
The NASDAQ recovered 90.45 points to 16,891.99.
Chipmaker and artificial intelligence darling Nvidia surged 8.5%, sending shares above $1,000, after posting stronger-than-expected fiscal first-quarter results and announcing a 10-for-1 stock split.
Fiscal second-quarter revenue guidance of about $28 billion also beat an LSEG consensus forecast of $26.61 billion — a sign the company doesn’t see its momentum slowing. For the bottom line, analysts expect a profit of $5.95 per share.
Nvidia’s results have been a focal point for Wall Street, as traders hoped for signs that the excitement around AI is not waning. With its $2.3 trillion market cap, Nvidia also has considerable sway over the broad S&P 500
On the economic side, New homes sold at a much slower than expected pace in April, the Commerce Department reported Thursday.
Sales of new single-family homes totaled 634,000 for the month, a 4.7% drop from March and less than the Dow Jones estimate for 677,000.
Prices for the 10-year Treasury slipped, raising yields to 4.49% from Wednesday’s 4.43%. Treasury prices and yields move in opposite directions.
Oil prices grew 35 cents to $77.95 U.S. a barrel.
Gold prices dipped $39.80 to $2,382.10.