More drops for chip stocks and other AI winners overshadowed gains for the majority of Wall Street.
The S&P 500 was little changed Thursday, even though more than two-thirds of the stocks within the index rose. The Dow Jones Industrial Average climbed 1.1% to another record, while the Nasdaq composite dropped 0.8% after erasing an early gain.
Stocks broadly got help from data showing U.S. hiring slowed last month. That pushed traders to trim bets for a possible hike to interest rates later this month. But chip stocks from Seoul to New York continued to slide.
On Thursday:
The S&P 500 rose 0.01 points, or less than 0.1%, to 7,483.24.
The Dow Jones Industrial Average rose 594.83 points, or 1.1%, to 52,900.07.
The Nasdaq composite fell 207.36 points, or 0.8%, to 25,832.67.
The Russell 2000 index of smaller companies fell 16.48 points, or 0.5%, to 2,996.11.
For the week:
The S&P 500 is up 129.22 points, or 1.8%.
The Dow is up 1,023.96 points, or 2%.
The Nasdaq is up 535.05 points, or 2.1%.
The Russell 2000 is down 13.97 points, or 0.5%.
For the year:
The S&P 500 is up 637.74 points, or 9.3%.
The Dow is up 4,836.78 points, or 10.1%.
The Nasdaq is up 2,590.68 points, or 11.1%.
The Russell 2000 is up 514.20 points, or 20.7%.
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