Stock Market Midday, Aug. 26: Markets Muted as Investors Await Nvidia Earnings
As of 11:47 AM ET, the S&P 500 (SNPINDEX:^GSPC) is up 0.01% to 7,678, while the Nasdaq Composite (NASDAQINDEX:^IXIC) has fallen 0.12% to 26,117, and the Dow Jones Industrial Average (DJINDICES:^DJI) is trading 0.18% lower at 53,480 as traders react to sticky inflation data.
At 11:47 AM ET on August 26, the S&P 500 edged up 0.01% to 7,678 as investors waited on Nvidia's earnings. The Nasdaq Composite slipped 0.12% to 26,117, while the Dow Jones Industrial Average fell 0.18% to 53,480. Sticky inflation data weighed on traders, sending gold down 0.61% to $4,608.72. Meanwhile, the 10-Year Treasury yield rose 0.017 to 4.67%.
Energy and industrial sectors led the modest gains, while basic materials and healthcare lagged behind. Meta Platforms saw its stock swing wildly following a $17 billion legal settlement, initially rising before trimming gains as markets digested the news. Abercrombie & Fitch surged 40% after beating earnings expectations and raising its full-year guidance.
Alibaba Group Holding rebounded slightly after a $10 billion share placement aimed at funding AI development.
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