Nvidia Was a Bright Spot on a Losing Day for Wall Street

JetBlue fells 10.2% after announcing CEO's departure
By Newser Editors and Wire Services
Posted Jan 9, 2024 3:33 PM CST
Nvidia Was a Bright Spot on a Losing Day for Wall Street
Traders work on the floor at the New York Stock Exchange.   (AP Photo/Seth Wenig)

Most of Wall Street slipped on Tuesday, giving back some of the big gains from the day before.

  • The S&P 500 fell 7.04 points, or 0.1%, to 4,756.50, coming off its best day in nearly two months.
  • The Dow Dow Jones Industrial Average fell 157.85 points, 0.4%, to 37,525.16.
  • The Nasdaq composite rose 13.94 points, or 0.1%, to 14,857.71.
Roughly three out of four stocks in the S&P 500 ended lower, but Nvidia rallied 1.7% to another record. It's one of Wall Street's most influential stocks because of its massive size and helped to limit the S&P 500's losses, the AP reports.

Eversource Energy tumbled 7.8% for one of the worst losses in the S&P 500 after it said it could take a hit of up to $1.6 billion against its results for the end of 2023. It's negotiating the sale of its stake in several offshore wind projects, and it may need to account for a lower value for them due to several challenges. Unity Software fell 8% after it said it will cut about a quarter of its workforce, or 1,800 positions. Boeing was also falling again, but not as much as on Monday, the first trading day after one of its jets flying for Alaska Airlines suffered an in-flight blowout. Its stock was down 1.4% after tumbling 8% Monday. Spirit AeroSystems, which makes fuselages and other parts for Boeing, swung from a loss to a gain of 0.1%

Elsewhere in the airline industry, JetBlue Airways lost 10.2% after its chief executive, Robin Hayes, said he will step down for health reasons. He will be replaced by JetBlue's current president, Joanna Geraghty, who will become the first woman to lead a major US airline. On the winning side of Wall Street, Illumina jumped 4.6% after the biotechnology company said it expects to report stronger revenue for the end of 2023 than analysts had expected. Urban Outfitters climbed 7.7% after it said total sales at its stores, including Anthropologie, during the final two months of the year strengthened by 10% from 2022 levels.

(More stock market stories.)

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