US stocks close mixed as tech sell off drains Nasdaq and S and P 500 while Dow gains on AI spending concerns

As of Thursday’s close, United States stocks finished mixed, with the Dow Jones Industrial Average rising 11.89 points, or zero point zero two percent, to 52,867.98, while the Standard and Poor’s 500 fell 93.74 points, or one point two one percent, to 7,663.43, and the Nasdaq Composite dropped 694 points, or two point six percent, to 26,008.86, according to Reuters. Technology and communication services led the decline as renewed concerns about artificial intelligence spending triggered a sharp sell-off in chipmakers, while consumer staples rose three point one one percent and utilities gained one point nine eight percent, according to Xinhua. Meta Platforms fell about seven percent despite reporting strong quarterly results, while Tesla declined about three percent, and Nvidia, Amazon, and Alphabet also fell sharply, according to Saxo. Initial unemployment claims declined to 194,000, below expectations, signaling continued labor-market resilience, while September’s leading economic index was unchanged; housing starts fell five point two percent and building permits decreased zero point two percent, according to Saxo and the Australian Broadcasting Corporation. Early futures trading pointed to a mixed opening after the technology-led sell-off. Listeners should watch next week for interest-rate decisions from the United States Federal Reserve, the European Central Bank, and the Bank of Japan, along with earnings from Alphabet, Microsoft, Amazon, Eli Lilly, Exxon Mobil, Chevron, and Caterpillar, according to Reuters. The main catalysts will be artificial-intelligence investment plans, oil prices, bond yields, corporate earnings, and central-bank guidance. Thank you for tuning in, and please remember to subscribe. This has been a quiet please production, for more check out quiet please dot ai. For great deals check out https://amzn.to/403yeYo