From Investing.com:

U.S. stocks had a mixed day, with tech dragging down indexes. The S&P 500 gained 0.1%, the Nasdaq fell 0.1%, and the Dow added 55 points. Eli Lilly’s shares dropped 1%, but Palantir Technologies surged 30% on strong Q4 earnings. Spotify narrowed its losses and rose 4% on better-than-expected user growth.

Chip stocks dragged down the tech sector, with Nvidia, AMD, and Rambus leading the declines. DocuSign fell over 3% after announcing layoffs and signaling an end to takeover talks. The restructuring is part of a plan to achieve growth as an independent public company.

Federal Reserve officials emphasized that they are not in a rush to cut rates, with work still to be done to slow inflation to the 2% target. Minneapolis Fed President Neel Kashkari noted that inflation is close to the target, while Cleveland Fed President Loretta Mester mentioned readiness to cut rates later this year in case inflation continues to cool.



Read more: US stocks struggle for direction as tech takes breather By Investing.com