S&P 500 Fluctuates as Tech Stocks Drive Record Highs and Plunges
TL;DR Summary
U.S. stocks were mixed as the Dow Jones Industrial Average rose 129 points, the S&P 500 fluctuated, and the Nasdaq Composite fell. Investors digested gains from the previous session and a hotter-than-expected inflation report, while anticipating a potential interest-rate cut by the Federal Reserve. Tech stocks and hopes of economic strength continued to drive market sentiment. Dollar Tree, Petco, and Tesla were among the companies in focus, with Dollar Tree missing profit expectations and Tesla being downgraded by Wells Fargo.
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