Here’s what happened in Thursday’s trading session:
US stocks were little changed on Thursday, hovering near record highs, with investors awaiting an update on the labor market amid growing hopes for interest rate cuts.
The S&P 500 (^GSPC) dipped barely below the flatline on the heels of a record close. The Dow Jones Industrial Average (^DJI) popped slightly, adding 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) gave back early-session gains to drop about 0.1%.
Stocks took a breather after the roaring rally that also lifted the Nasdaq to an all-time high on Wednesday. Tech stocks helped drive the gains, with Nvidia (NVDA) overtaking Apple (AAPL) as the second-biggest US company.
However, on Thursday, Nvidia shares gave back some of those gains to fall more than 1%, sending the AI chip giant’s market cap below the $3 trillion level.