Nasdaq Surges Past 20,000 Amid Big Tech Gains and Dividend Boosts

U.S. stocks edged lower on Thursday following a record close for the Nasdaq, as Treasury yields rose and the dollar steadied. The decline was driven by a pullback in major tech stocks and higher Treasury yields after faster-than-expected producer price inflation data. The S&P 500, Nasdaq, and Dow all saw declines, while the European Central Bank announced a rate cut. The Treasury's 30-year bond auction saw weaker demand, contributing to rising yields. Meanwhile, Adobe shares fell due to a muted revenue outlook despite strong earnings.