Wall Street today: S&P 500 and Dow Jones rise, Nasdaq slips

The S&P 500 and the Dow Jones rose on Wednesday a day after sharp sell-off on worries over the US economy.

As of 11:08 am Eastern, the S&P 500 rose 0.4 per cent following a 2.1 per cent drop in previous session. The Dow Jones Industrial Average surged 201 points, or 0.5 per cent, to 41,135. The Nasdaq fell 0.4 per cent. per cent.

As of 9:50 am Eastern, the S&P 500 is mostly unchanged, the Dow Jones Industrial Average rose less than 0.1 per cent, and the tech-heavy Nasdaq fell 0.2 per cent.

At the opening bell, the Dow Jones Industrial Average fell 64.87 points, or 0.16%, to 40,872.06. The S&P 500 fell by 22.25 points, or 0.40%, at 5,506.68, while the Nasdaq Composite dropped 120.58 points, or 0.70%, to 17,015.71.

A report showed that number of job openings in the US fell unexpectedly in July.

Tech shares slipped on weakness in giant AI chip company Nvidia’s stock.

Nvidia stock fell 0.8 per cent following a news report that it has been subpoenaed by US antitrust regulators as part of a probe into its practices.

Stocks of Apple fell 1.1 per cent and Microsoft lost 0.7 per cent.

Dollar Tree shares tumbled 20 per cent after the retailer cut its full year earnings forecast.

In the bond market, the yield on 10-year Treasury fell 2.6 basis points to 3.818 per cent. The yield on 2-year note dropped 4.7 basis points at 3.8405 per cent.

Bullion

Gold prices extended declines on Wednesday on a sharp sell-off in equities.

Spot gold fell 0.2 per cent to $2,488.11 per ounce as of 1118 GMT. US gold futures fell 0.2 per cent to $2,519.10.

Spot silver was down 0.1 per cent to $28.01 per ounce.

Crude oil

Oil prices were near nine-month low as OPEC deliberated whether to add supplies into a market roiled by concerns over demand.

Brent futures were near $73 a barrel following a near 5% meltdown on Tuesday. West Texas Intermediate traded around $70.