Stock Market Today: Rally Stalls As Nvidia Drops, Economic Data Softens

  • US stocks closed mostly lower Thursday, ending a long streak of gains for the S&P 500 and the Nasdaq.
  • Nvidia dropped after soaring to records earlier in the day. 
  • Traders were also assessing weak housing-market data and elevated weekly jobless claims. 

US stocks were mixed on Thursday, with the S&P 500 and the Nasdaq ending lower to end a long run of gains that had brought the indexes to a series of record highs.

Nvidia dragged the market lower as the tech giant dropped 3% after rising as much in early morning trading. The firm sank back below Microsoft’s market capitalization after briefly surpassing it to become the most valuable company in the world earlier this week.

The S&P 500 climbed above 5,500 for the first time ever on Thursday before dipping back below that level. The Dow Jones Industrial Average bucked the decline in the other major indexes, rising nearly 300 points in the session.

Here’s where US indexes stood at the 4:00 p.m. closing bell on Thursday:

Investors were assessing new economic data that pointed to growing softness in the US economy. Last month, housing starts were the lowest in four years, as homebuilders and homebuyers alike struggled with high financing costs.

Jobless claims were also higher than expected. Though claims dipped slightly week-to-week, 238,000 people sought unemployment benefits last week, close to the highest level in 10 months.

“Economic indicators for the second quarter largely point to another slow quarter of economic activity, including weak retail sales, housing starts, and building permits,” Bill Adams, Chief Economist for Comerica Bank, wrote Thursday.

“At the same time, labor market indicators like initial and continued jobless claims are weakening. This suggests upside risk to the unemployment rate in the June release after it reached 4.0% in May, which was the highest since early 2022.”

Here’s what else happened today:

In commodities, bonds, and crypto:

  • Oil futures rose. West Texas Intermediate crude oil rose by about 1% to $82.34 a barrel. Brent crude, the international benchmark, climbed 0.8% to $85.82 a barrel.
  • Gold increased 1% to $2,372.20 per ounce.
  • The 10-year Treasury yield climbed three basis points to 4.254%.
  • Bitcoin ticked up to $64,961.25.

Source link

Visited 1 times, 1 visit(s) today

Related Article

2 No-Brainer Vanguard ETFs to Buy During the Stock Market Sell-Off

The S&P 500 is down almost 9% from its January record high. Ongoing geopolitical tensions in the Middle East have triggered a spike in oil prices, which could stoke inflation for any products requiring transportation by land, air, or sea. As a result, investors are bracing for economic uncertainty and even a potential increase in interest

Jim Cramer on McCormick & Company: “Stock Just Doesn’t Entice”

McCormick & Company, Incorporated (NYSE:MKC) is among the stocks in focus as Jim Cramer highlighted a market yearning for the status quo ante. Cramer discussed the company’s deal with Unilever during the episode, as he commented: Sometimes, a group is just so hated that it doesn’t matter what any of its members do. You know

2 Growth Stocks to Own for the Long Term

Uncertainty is a part of life, and it also plays a big role in the stock market. During periods of high uncertainty, investors tend to become anxious, and right now, there is a lot to be nervous about. Will AI create the world’s first trillionaire? Our team just released a report on the one little-known company,

3 European Growth Stocks With Insider Ownership Expect 23% Earnings Growth

The European stock markets have recently seen a positive shift, with the pan-European STOXX Europe 600 Index rising by 3.92% amid hopes for a shorter-lived Middle East conflict and despite inflationary pressures driven by energy costs. In this environment, growth companies with high insider ownership can be particularly appealing as they often signal strong confidence

3 Companies Including Polar Capital Holdings That May Be Trading Below Estimated Value

The United Kingdom’s stock market has recently faced challenges, with the FTSE 100 index experiencing declines influenced by weak trade data from China and a global economic slowdown. Amid these conditions, identifying undervalued stocks can be crucial for investors seeking opportunities, as such stocks may offer potential value when broader market sentiments are subdued. Name

Undervalued European Small Caps With Insider Action For April 2026

As European markets navigate the complexities of Middle East tensions and energy market volatility, the pan-European STOXX Europe 600 Index has shown resilience, ending the week with a 3.92% gain. Amidst these broader market dynamics, small-cap stocks in Europe present intriguing opportunities for investors seeking value, particularly when insider activity suggests confidence in a company’s

3 Stocks to Sell Before Earnings Season

Buying and holding stocks for the long run is a great strategy for building wealth over time. However, companies change, and some investments that looked solid a few years ago may turn out to be duds if you give them more time to stretch. For instance, Kraft Heinz (KHC +2.33%) used to be a solid

How are Wall Street institutions responding to uncertain markets? Fund managers are increasingly turning to hedging strategies.

①Global stock markets experienced a roller-coaster ride this week, with Asian markets and U.S. stocks affected by Trump’s remarks. Market sentiment turned pessimistic on Thursday, while oil prices surged significantly; ②Wall Street has adopted risk-averse strategies. Some reduced their growth stock positions to increase value stock holdings, others shifted to foreign exchange trading or hedging

Why Iridium Stock Trounced the Market on Thursday

Satellite stocks were hot among investors on Thursday, and one beneficiary of this was telecom services specialist Iridium Communications (IRDM +15.32%). Following a widely read media report about a peer company potentially being acquired, Iridium’s share price zoomed more than 15% higher. That crushed the essentially flat performance of the S&P 500 index. Star turn

Opportunity Knocks? Top 3 Worst Performing Blue Chips for March 2026

Stock price down Sometimes, the stock market hands investors a puzzle. All three of the Straits Times Index’s worst performers for March 2026 reported strong headline results for their latest full year. Profits surged, dividends were raised, and order books looked healthy. Yet their share prices lagged behind the rest of the pack. The common

Citigroup declares qtrly dividend of $0.60 per share

Market Closed – Nyse 04:02:47 2026-04-02 pm EDT 5-day change 1st Jan Change 115.25 USD -0.04% +2.53% -1.23% Published on 04/02/2026 at 07:34 pm EDT Reuters This article is reserved for members Unlock the article: REGISTER NOW! © Reuters – 2026 DurationAuto.2 months3 months6 months9 months1 year2 years5 years10 yearsMax. PeriodDayWeek Citigroup Inc. is the

Where Will CoreWeave Stock Be in 1 Year?

CoreWeave (CRWV +4.87%) is one of the fastest-growing companies in artificial intelligence (AI). Revenue hit $5.1 billion in 2025 — up 168% year over year — and the company is guiding for more than twice that in 2026. Its backlog swelled more than 300% to $66.8 billion. I see why bulls believe in this one,

Key economic reports, earnings from Levi’s, Delta

CNBC’s Jim Cramer outlined Thursday what investors should watch in the week ahead, including Middle East developments, major earnings releases and key economic prints.   The “Mad Money” host’s weekly game plan follows a volatile session on Wall Street. Stocks ripped higher Thursday on media reports that Iran is working with Oman to draft a protocol

2 Outstanding Growth Stocks to Buy on the Dip

The tech-heavy Nasdaq Composite recently entered correction territory, as defined as a 10% drop from its most recent high. That means it is halfway to bear-market levels. Many investors are staying away from equities right now, given the challenging broader macroeconomic conditions that are partly to blame for the Nasdaq’s decline. However, it might actually

3 ASX Stocks Possibly Trading Below Estimated Value In April 2026

As the Australian stock market shows signs of stabilization with a +0.5% advance, investors are cautiously optimistic about the resolution of geopolitical tensions in the Middle East and its impact on global markets. In this environment, identifying stocks that may be trading below their estimated value can offer potential opportunities for those looking to capitalize

The Bull Case For Reddit (RDDT) Could Change Following FTSE All-World Index Inclusion Learn Why

Reddit, Inc. was added to the FTSE All-World Index (USD) on 21 March 2026, bringing the social platform into a widely tracked global equity benchmark. This inclusion can influence how large institutional investors gain exposure to Reddit, potentially affecting trading volumes and the stock’s investor base composition. We’ll now examine how this index inclusion, against

Stock Market Outlook: 5 Charts That Show Fresh Bull Market Is Coming

The outlook for stocks hasn’t looked this gloomy in recent memory. But one Wall Street veteran is feeling confident that the bull market isn’t over. Jim Paulsen, current Substack writer and former chief investment strategist at The Leuthold Group, says he’s seeing a handful of signs that suggest the market was on its way to

Which Generation Is the Most Bullish About AI Stocks? The Answer May Surprise You.

Over half (55%) of investors surveyed believe artificial intelligence (AI) will have a positive impact on the stock market over the next 10 years, according to recent research by The Motley Fool. But opinions vary widely by age. Surprisingly, it’s millennials, not Gen Z, who are most bullish about AI. Nearly three-quarters (73%) expect a

A 2026 stock market crash could be a rare passive income opportunity

Image source: Getty Images Is a stock market crash inevitable this year? Some are suggesting as much. The FTSE 100 and S&P 500 have both already dipped into (and then out of) the territory of a stock market correction. The Iran war could drag on and on, with all the effects on inflation and supply

The Market Is Choppy. Here Are 5 Sectors Holding Up Better Than the Rest.

In 2025, all three of the U.S. stock market’s major indexes — the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average — finished the year in the green, increasing 16.4%, 20.4%, and 13%, respectively. So far this year, it has been a completely different story. All of them are in the negative through March.

0
Would love your thoughts, please comment.x
()
x