US Stocks See Mixed Results as S&P 500 Hits New High
On Wednesday, the US stock market saw a mixed performance, with the S&P 500 reaching a new record high but pausing its record-setting streak. The S&P 500 was down 0.2%, while the Dow Jones rose 0.1% and the Nasdaq Composite fell over 0.5% due to a retreat in tech stocks.
Tech giants like Nvidia and Tesla experienced declines in their stocks, with Tesla dropping over 4.5% after a downgrade from Wells Fargo and a warning about sales. Despite this, investors remain optimistic about the potential for the Federal Reserve to cut interest rates, despite consumer inflation data in February being higher than expected.
The US economy continues to perform better than anticipated, with wholesale inflation and retail sales data set to be released on Thursday. Additionally, Bitcoin was trading above $73,000, extending its impressive rally.
In other news, DollarTree’s shares plummeted by 14% after the company reported a quarterly loss and announced plans to close nearly 1,000 stores. This decision will result in a charge of over $1 billion for the company.
Overall, the market remains volatile as investors closely monitor economic data and corporate performance. Stay tuned for further updates on ‘White Houser’.
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