The S&P 500 gained in a choppy session after strong earnings results from Nvidia, the world’s largest chipmaker by market value, and various retailers.
The S&P 500 was 0.3% higher to 4,704.54 and the Nasdaq Composite rose 0.5% to 15,993.71.
The Dow fell 60 points, or 0.1%, dragged lower by big losses in Cisco shares.
The S&P 500 fell as much as 0.3% at one point before recovering.
But trading has been choppy all week with the major averages wavering at the flat line, and Thursday was no exception. The S&P and Nasdaq are still on track for a positive week and are about 0.3% from their records. The Dow is nearly 2% from its record.
European stocks close lower as inflation data hits sentiment; Royal Mail up 10%
European stocks closed lower on Thursday amid market concerns around the region’s inflation outlook and coronavirus figures.
The pan-European Stoxx 600 closed down by 0.5% provisionally, with oil and gas dropping 1.8% as most sectors and major bourses sank deep into the red. Automakers were the outliers, climbing 0.3%.
The slump for European markets comes amid investor concerns over the inflation outlook in the region; data released on Wednesday showed euro zone inflation at 4.1% year-on-year in October, more than double the European Central Bank’s target.
In its biannual stability report published Wednesday, the ECB warned of stretched valuations in property and financial markets, as the region continues to recover from the Covid pandemic on the back of ultra-low interest rates and massive stimulus measures.
Reference: CNBC
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