US stocks slip after oil prices rise and Nvidia's latest profit report gets a yawn
U.S. stocks are experiencing a decline as oil prices rise and Nvidia's profit report fails to excite investors. The S&P 500 is on track for its fourth drop in five days, while the Dow Jones and Nasdaq also see losses. Analysts suggest that profit-taking and concerns over high valuations in the AI sector are contributing to the market's weakness.
- ▪The S&P 500 fell 0.3 percent, marking its fourth drop in five days.
- ▪Nvidia reported stronger-than-expected profits but saw its stock fluctuate before falling 1.4 percent.
- ▪Oil prices climbed 1.7 percent to $106.81, impacting financial markets and Treasury yields.
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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, Thursday. Reuters-YonhapNEW YORK — The U.S. stock market is slipping Thursday after oil prices resumed their climb.The S&P 500 fell 0.3 percent and is on track for a fourth drop in five days after setting its all-time high. The Dow Jones Industrial Average was down 83 points, or 0.2 percent, as of 1:01 a.m. Eastern time, and the Nasdaq composite was 0.4 percent lower.A halt in the torrid run for stocks benefiting from the artificial-intelligence boom has slowed the U.S. market recently.
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