Wall St indexes mixed as Alphabet weighs; Dow hits one-week high
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Snowflake jumps after raising annual product revenue forecast
Amazon drops after report on EU investigation next year
Oil jumps as Russia-Ukraine exchange missile fire
Deere shares up after Q4 profit beats estimates
Indexes: Dow up 0.86%, S&P 500 up 0.32%, Nasdaq down 0.26%
Updates with mid-session trading
By Johann M Cherian and Purvi Agarwal
Nov 21 (Reuters) - Wall Street's main indexes were mixed in volatile trading on Thursday, with Alphabet's losses weighing on the benchmark S&P 500 and the Nasdaq, while the blue-chip Dow touched a one-week high, boosted by shares of cloud company Salesforce.
Alphabet GOOGL.O slid 6.2% to touch a more than three-week low afterthe Justice Department argued to a judge that Google must sell its Chrome browser and take other measures to end its monopoly on online search.
The stock's losses weighed on the communication services sector .SPLRCL, which fell 2.6%, while nine of the 11 S&P 500 sectors traded higher.
Megacaps also took a hit, with Meta META.O down 1.2% and Apple AAPL.O flat.
Amazon.com AMZN.O lost 3% after a report said it will likely face an EU investigation next year into whether it favors its own brand products on its online marketplace.
Shares of WallStreet's biggest company, Nvidia <NVDA.O>, were choppy and were last down 0.5%. The chip companysurpassed expectations for quarterly results, and projected fourth-quarter revenue above estimates.
However,some investors were unimpressed that the forecast was its slowest in seven quarters.
"It has a lot to do with some disappointments in terms of Nvidia's guidance on the margins, the story on Google doesn't help (either) and that's bringing down the entire technology complex," said Dan Eye, chief investment officer at Fort Pitt Capital Group.
The broader Philadelphia SE Semiconductor index .SOX was up 1%.
At 11:42 a.m. ET, theDow Jones Industrial Average .DJI rose 372.11 points, or 0.86%, to 43,780.58, the S&P 500 .SPX gained 18.99 points, or 0.32%, to 5,936.10 and the Nasdaq Composite .IXIC lost 48.96 points, or 0.26%, to 18,917.19.
Nvidia has led much of the U.S. market rally since mid-2023 on expectations that AI integrationcould boost corporate profits. The stock has risen more than nine-foldin the past two years and the company boasts a market value of $3.5 trillion.
Gains on the blue-chip Dow were aided by Salesforce's CRM.N 4.5% advance after three brokerages lifted their price targets on the stock.
On the data front, a weekly report on jobless claims showed they fellunexpectedly last week, suggesting a rebound in job growth in November.
Money market bets tiled in favor of a 25 basis points interest rate cut by theFed at its December meeting, according to the CME Group's FedWatch.
Meanwhile, Richmond Fed President Tom Barkin said the United States is more vulnerable to inflationary shocks than in the past, according to a media report.
Comments from Federal Reserve officials Austan Goolsbee and Vice Chair for Supervision Michael Barr are on tap.
Traders also monitored geopolitical tensions between Ukraine and Russia, that sent crude prices higher and aided a 1.4% gain in the energy sector .SPNY.
Deere DE.N shares gained 7.8% after reporting an upbeat fourth-quarter profit, whileSnowflake SNOW.N jumped 32% afterraising its annual product revenue forecast.
Crypto stocks were mixed asbitcoin BTC= prices came off session highs. MARA Holdings MARA.O jumped 7.6%, while Coinbase Global COIN.O dropped 4.4%.
Advancing issues outnumbered decliners by a 3.44-to-1 ratio on the NYSE and by a 1.88-to-1 ratio on the Nasdaq.
The S&P 500 posted 52 new 52-week highs and four new lows, while the Nasdaq Composite recorded 102 new highs and 108 new lows.
Nvidia's triple-digit growth comes to an end https://reut.rs/4fsHKtH
Reporting by Purvi Agarwal and Johann M Cherian in Bengaluru; Editing by Pooja Desai and Maju Samuel
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