Wall Street whipsawed to subdued close
Nasdaq, S&P 500 end lower; Dow posts gains
Energy up most among S&P sectors; tech lags
Dollar, gold, bitcoin higher; crude gains nearly 2%
U.S. 10-year Treasury yields edges up to ~3.87%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET WHIPSAWED TO SUBDUED CLOSE
Wall Street took investors for quite a ride on Thursday.
They started the day by shrugging off Nvidia NVDA.O guidance that wasn't quite as rosy as they might have liked, choosing instead to accentuate the positive GDP economic data.
And what appeared to be a nice rally seemed to be gaining steam.
Until it didn't.
At one point, the Nasdaq was up more than 1%, but by the end of the session the tech-heavy index was off 0.2%. The S&P 500 closed essentially unchanged, while the blue-chip Dow posted a healthy 0.6% advance.
In short, the stock market exhibited the mood swings typical of light-volume, late summer, pre-Labor Day trading.
Nvidia's stock tumbled 6.4% on the day, after failing to meet sky-high expectations, but the chipmaker's disappointing guidance wasn't quite as contagious as feared; of the "magnificent seven" group of megacaps that have benefited the most from the artificial intelligence hullabaloo, five notched gains, while Alphabet GOOGL.O joined Nvidia in the red.
Much of the NVDA gloom lifted in the wake of generally upbeat economic data, particularly the Commerce Department's revised GDP take, which showed the U.S. economy grew at a faster-than-expected pace in the second quarter and consumer spending was more robust than previously thought.
Winning today's value vs. growth tug-of-war, value .IVX rose 0.4%, while growth .IGX dipped 0.3%.
Energy .SPNY and airlines .SPCOMAIR were the clear outperformers.
On Friday, before they sail into the three-day Labor Day weekend, investors will be treated to the Commerce Department's comprehensive July Personal Consumption Expenditures (PCE) report, which will cover income growth, spending, saving and, of course, inflation.
Here's your closing snapshot:
(Stephen Culp)
*****
THURSDAY'S OTHER LIVE MARKETS POSTS:
THE MACRO GHOSTS HAUNTING BRAZILIAN EQUITIES CLICK HERE
SCHWAB CLIENTS CONFIDENT IN MARKET, NOT ELECTION CLICK HERE
GLOBAL ECONOMIC RISKS RISE UNDER LATE SUMMER'S APPARENT CALM - CFRA CLICK HERE
THURSDAY DATA: GDP (AND OTHER STUFF) CLICK HERE
UPBEAT GDP REVISION REMEDIES NVIDIA HANGOVER CLICK HERE
BRITISH BANKS CAUGHT IN BUDGET CROSSHAIRS CLICK HERE
MIXED PICTURE: NVIDIA DOWN, EUROPEAN TECH UP CLICK HERE
BURBERRY TO CHECK OUT OF FTSE 100 NEXT WEEK CLICK HERE
STOXX 600 RISES TO 6-1/2 WEEK HIGH CLICK HERE
EUROPEAN FUTURES STEADY AFTER NVIDIA RESULTS CLICK HERE
NVIDIA WATCH PARTY OVER, BACK TO INFLATION VIGILCLICK HERE
Closing snapshot https://reut.rs/3MnN4BN
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
