Most U.S. stocks fell, but hopes for coming cuts to interest rates and Wall Street’s continued frenzy around artificial-intelligence technology sent indexes to more record highs.
The S&P 500 rose 0.2% Thursday after a day of drifting between shallow gains and losses, beating the all-time high it set the day before. The Nasdaq composite climbed 0.3%, also setting another record. The Dow Jones Industrial Average fell 0.2%.
Technology company Broadcom soared 12.3%. Treasury yields eased again in the bond market as conviction built that inflation is slowing enough to get the Federal Reserve to cut interest rates later this year.
On Thursday:
The S&P 500 rose 12.71 points, or 0.2%, to 5,433.74.
The Dow Jones Industrial Average fell 65.11 points, or 0.2%, to 38,647.10.
The Nasdaq composite rose 59.12 points, or 0.3%, to 17,667.56.
The Russell 2000 index of smaller companies fell 18.19 points, or 0.9%, to 2,038.91.
For the week:
The S&P 500 is up 86.75 points, or 1.6%.
The Dow is down 151.89 points, or 0.4%.
The Nasdaq is up 534.43 points, or 3.1%.
The Russell 2000 is up 12.36 points, or 0.6%.
For the year:
The S&P 500 is up 663.91 points, or 13.9%.
The Dow is up 957.56 points, or 2.5%.
The Nasdaq is up 2,656.21 points, or 17.7%.
The Russell 2000 is up 11.84 points, or 0.6%.