More drops for chip stocks and other AI winners overshadowed gains for the majority of Wall Street.
The S&P 500 was little changed Thursday, even though more than two-thirds of the stocks within the index rose. The Dow Jones Industrial Average climbed 1.1 percent to another record, while the Nasdaq composite dropped 0.8 percent after erasing an early gain.
Stocks broadly got help from data showing U.S. hiring slowed last month. That pushed traders to trim bets for a possible hike to interest rates later this month. But chip stocks from Seoul to New York continued to slide.
On Thursday:
The S&P 500 rose 0.01 points, or less than 0.1 percent, to 7,483.24.
The Dow Jones Industrial Average rose 594.83 points, or 1.1 percent, to 52,900.07.
The Nasdaq composite fell 207.36 points, or 0.8 percent, to 25,832.67.
The Russell 2000 index of smaller companies fell 16.48 points, or 0.5 percent, to 2,996.11.
For the week:
The S&P 500 is up 129.22 points, or 1.8 percent.
The Dow is up 1,023.96 points, or 2 percent.
The Nasdaq is up 535.05 points, or 2.1 percent.
The Russell 2000 is down 13.97 points, or 0.5 percent.
For the year:
The S&P 500 is up 637.74 points, or 9.3 percent.
The Dow is up 4,836.78 points, or 10.1 percent.
The Nasdaq is up 2,590.68 points, or 11.1 percent.
The Russell 2000 is up 514.20 points, or 20.7 percent.
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