As Wall Street anticipated new inflation statistics for hints about when the Federal Reserve will start cutting interest rates, the S&P 500 hovered close to the flatline on Thursday.
It was slightly higher than the overall market index. By 0.1%, or 57 points, the Dow Jones Industrial Average increased in value, while the Nasdaq Composite rose 0.3%.
Due to the decline in semiconductor equities, investors are unsure if the artificial intelligence industry will support markets through the second half of this year.
Following the release of revenue projections for the fourth quarter that was in line with estimates, Micron’s stock fell by more than 5%. Nvidia, a market leader and powerhouse in semiconductors, also faltered, falling 2%.
Source (CNBC)
