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The U.S. stock market drifted to a mixed close after several AI stocks veered back up the roller coaster, while Apple shares dropped after hiking prices on many of its products.
The S&P 500 slipped less than 0.1 percent Thursday after swinging between gains and losses. The Dow Jones Industrial Average rose 0.1 percent, and the Nasdaq composite fell 0.5 percent.
Micron Technology helped lead the market after the memory chip company reported much stronger profit and revenue for the latest quarter than analysts anticipated. Treasury yields eased in the bond market after a report said inflation is behaving pretty much as economists expected.
On Thursday:
The S&P 500 fell 0.73 points, or less than 0.1 percent, to 7,357.49.
The Dow Jones Industrial Average rose 71.72 points, or 0.1 percent, to 51,920.62.
The Nasdaq composite fell 118.03 points, or 0.5 percent, to 25,358.60.
The Russell 2000 index of smaller companies rose 21.23 points, or 0.7 percent, to 3,007.86.
For the week:
The S&P 500 is down 143.09 points, or 1.9 percent.
The Dow is up 355.92 points, or 0.7 percent.
The Nasdaq is down 1,159.33 points, or 4.4 percent.
The Russell 2000 is up 28.09 points, or 0.9 percent.
For the year:
The S&P 500 is up 511.99 points, or 7.5 percent.
The Dow is up 3,857.33 points, or 8 percent.
The Nasdaq is up 2,116.61 points, or 9.1 percent.
The Russell 2000 is up 525.95 points, or 21.2 percent.
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