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DailyBubble News

Dow Jones Logs Sixth Day of Gains, Tech Shares Drag Nasdaq Lower — TradingView News

In recent market news, the Dow Jones Industrial Average made gains while tech shares dragged down the Nasdaq Composite. The S&P 500 saw a minimal decline of 0.03 points, marking its smallest move in six years.

The Dow Jones index rose by 0.4%, extending its winning streak to six consecutive sessions. This was driven by strong performances from real-economy stocks, making it the only major US index to end in the green on Wednesday. On the other hand, both the S&P 500 and Nasdaq Composite struggled.

The S&P 500 finished nearly flat, while the Nasdaq Composite fell by 30 points due to a tech stock sell-off. Companies like Shopify and Uber experienced significant drops in their stock prices, contributing to the overall decline in the tech-heavy index.

Corporate earnings reports are wrapping up, with conflicting economic data adding to market uncertainty. While some individual stocks have been impacted by high interest rates and weak consumer demand, overall S&P 500 companies have shown a 5.2% earnings growth. Expectations for interest rate cuts have wavered, but a softer April jobs report has reignited hopes for lower borrowing costs.

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