Dow Surges, S&P Little Changed
The S&P 500 traded around flat Thursday as Wall Street wondered if record highs were once again in the cards.The Dow Jones Industrials popped 256.23 points by lunch time Thursday at 44,409.48. The much-broader index inched up 8.16 points to 6,094,53. The NASDAQ Composite dropped 38.35 points to 19,970.99. as Nvidia and Amazon pulled back.This action comes a day after the S&P 500 set an intraday record and finished Wednesday’s session just below its record closing high. The Dow was also within striking distance of new highs on Thursday.The fourth-quarter earnings season is also off to a strong start, with Netflix and big banks offering positive reports. But American Airlines poured some water on that enthusiasm, with the stock tumbling more than 6% on Thursday after issuing weak guidance.Prices for the 10-year Treasury slipped, raising yields to 4.65% from Wednesday’s 4.60%. Treasury prices and yields move in opposite directions.Oil prices moved backward 88 cents to $74.56 U.S. a barrel. Prices for gold declined $7.40 an ounce to $2,763.50 U.S.
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