Dow Slips, but S&P Grabs Another Record

Nasdaq also reaches a new high
By Newser Editors and Wire Services
Posted Nov 4, 2021 3:22 PM CDT
Dow Slips, but S&P Grabs Another Record
A Wall Street sign is shown in the Financial District, Wednesday, Oct. 13, 2021, in the Manhattan borough of New York.   (AP Photo/John Minchillo, File)

Stocks wound up a mixed bag on Wall Street Thursday, but big gains in several technology giants helped push the S&P 500 and the Nasdaq indexes to more record highs, per the AP. The S&P gained 19 points to 4,680 and the tech-dominated Nasdaq rose 128 points to 15,940. However, the Dow fell 33 points to 36,124. Investors continued to focus on the latest round of corporate earnings. Chipmaker Qualcomm jumped 12.3% after it gave investors an encouraging profit forecast and reported strong quarterly results. Other chipmakers also gained ground. Nvidia rose 14.1% and Advanced Micro Devices rose 5.3%.

A mix of companies that rely on direct consumer spending for goods and services also made solid gains. Booking Holdings rose 1.1% after it beat Wall Street’s third-quarter profit and revenue forecasts. A key concern for investors amid the latest round of earnings has been the impact of supply chain problems on corporate profits and operations. Roku is the latest company to suffer because of those disruptions and higher costs. The video streaming company fell 8.2% after giving investors a weak sales forecast and warning that supply chain problems will likely continue into 2022.

(Read more stock market stories.)

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