Stock Market Today, Oct. 12: Dow Gains as Memory Stocks Weigh on Nasdaq
The Dow Jones Industrial Average (DJINDICES:^DJI) rose 0.38% to 51,851 as investors favored value-oriented sectors, while the S&P 500 (SNPINDEX:^GSPC) slipped 0.06% to 7,807 and the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.44% to 27,246 on technology sector weakness.
Gold prices fell 0.64% to $4,167.56 as of U.S. market close, and the 10-Year Treasury yield edged up 0.01% to 5.24%. Communication services and consumer defensive stocks led all sectors, while technology stocks lagged.
Salesforce gained on an analyst upgrade, and Figs surged over 12% as the healthcare apparel attracted further investor attention — the stock is now up over 30% in the past five days. Sandisk tumbled more than 6% on memory competition concerns, and Lumentum Holdings fell almost 10%, erasing last week’s gains as investors retreated from artificial intelligence (AI) industry stocks. On the flip side, Meta Platforms shares increased following the launch of Muse Wonder, its latest AI model.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.