Tech stocks closed slightly higher fueled by strength in AI and chip stocks.

From Nasdaq: 2024-09-25 18:32:48

Stocks closed mixed on Wednesday, with the S&P 500 down -0.19%, Dow down -0.70%, and Nasdaq up +0.14%. Higher T-note yields led to pressure on equities despite some positive corporate news. GM and KB Home saw losses, while Progressive Software and Flutter Entertainment gained. Mortgage applications rose, new home sales fell in Aug. Markets await US core PCE price index for inflation data and expect rate cuts at November FOMC meeting. Overseas markets settled mixed. Bond yields rose, with ECB’s Knot expecting gradual rate cuts. US stock movers included chip stocks rising, HP Enterprise, Progressive Software, Cintas, DoorDash seeing gains, while Global Payments, Amgen, KB Home, General Motors, Ford Motor, Tyson Foods saw losses. Earnings reports upcoming for Accenture PLC, CarMax Inc, Costco Wholesale Corp, Jabil Inc, TD SYNNEX Corp, Vail Resorts Inc on 9/26/2024.



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