Tech stocks drag down market ahead of inflation numbers, Dow up 0.1%

From Nasdaq:

Wall Street closed mixed on Wednesday, with tech stocks dragging down the market ahead of producer-side inflation numbers to be released Thursday. The Dow Jones Industrial Average (DJI) rose 0.1%, Nasdaq Composite dropped 0.5%, and S&P 500 slid 0.2%. The tech sector’s volatility led by chip stocks kept investors cautious.

Investors eagerly await NVIDIA Corporation’s global GTC developer conference on AI, while keeping an eye on Producer Price Index (PPI) numbers due to be released. Concerns over the potential impact of a recession on overvalued tech stocks persist as the Fed remains non-committal. AMD and ON Semiconductor stocks dipped 3.9% and 3.3%, respectively.

A government report shows a 1.5 million barrel decrease in U.S. commercial crude oil inventories for the week ending Mar 8, 2024. Stock market analysis tools like Zacks are offering $1 access to all their picks for a limited time to help investors navigate the current market complexities.



Read more at Nasdaq: Stock Market News for Mar 14, 2024