Wall Street’s split widened, as smaller stocks and other formerly unloved areas of the market rose up while superstar Big Tech stocks gave back more of their huge gains.
Most stocks climbed Thursday after a surprisingly strong report on the U.S. economy raised hopes for profits at smaller companies.
Continued weakness for a pocket of Big Tech stocks including Nvidia and Microsoft weighed on the S&P 500, however, and the index fell 0.5% after a healthy gain from earlier in the day evaporated.
The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite lost 0.9%.
On Thursday:
The S&P 500 fell 27.91 points, or 0.5%, to 5,399.22.
The Dow Jones Industrial Average rose 81.20 points, or 0.2%, to 39,935.07.
The Nasdaq composite fell 160.69 points, or 0.9%, to 17,181.72.
The Russell 2000 index of smaller companies rose 27.61 points, or 1.3%, to 2,222.98.
For the week:
The S&P 500 is down 105.78 points, or 1.9%.
The Dow is down 352.46 points, or 0.9%.
The Nasdaq is down 545.21 points, or 3.1%.
The Russell 2000 is up 38.63 points, or 1.8%.
For the year:
The S&P 500 is up 629.39 points, or 13.2%.
The Dow is up 2,245.53 points, or 6%.
The Nasdaq is up 2,170.37 points, or 14.5%.
The Russell 2000 is up 195.91 points, or 9.7%.
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