According to Reuters, United States stocks finished mixed on Thursday, October eighth, with the Dow Jones Industrial Average gaining 51.77 points, or 0.10 percent, to 51,231.64, while the Standard and Poor’s 500 Index fell 36.41 points, or 0.47 percent, to 7,765.36, and the Nasdaq Composite declined 345.35 points, or 1.25 percent, to 27,193.34. Rising crude oil prices and renewed weakness in semiconductor shares drove the decline, while lower Treasury yields and gains in energy and defensive companies supported the Dow. The energy sector gained about 2.77 percent, while information technology fell about 2.00 percent and health care declined about 1.80 percent, according to Reuters and HDFC Sky.
Nvidia fell about 2.94 percent, Broadcom declined about 4.35 percent, Advanced Micro Devices lost about 3.90 percent, and Micron Technology dropped about 4.80 percent. Oracle fell roughly 5.60 percent, while Coherent declined approximately 9.60 percent. Home Depot rose about 3.40 percent, Chevron gained 3.14 percent, and International Business Machines advanced 2.75 percent. Chip stocks were pressured after the Financial Times reported that OpenAI’s annualized revenue was below previously indicated levels, raising fresh doubts about artificial intelligence spending.
PepsiCo reported adjusted earnings of 2 dollars and 34 cents per share and revenue of 25.27 billion United States dollars, but reduced its earnings growth outlook, limiting the stock’s advance. Friday’s calendar includes the University of Michigan consumer sentiment report and inflation expectations, the United States Department of Agriculture supply and demand report, and the Baker Hughes oil rig count. Pre-market futures indications and tomorrow’s scheduled catalysts should be checked against the latest available market data, as conditions can change before the opening bell.
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