HomeFinancial MarketsU.S. Stocks Mixed as Nasdaq Rebounds and Dow Jones Slips

U.S. Stocks Mixed as Nasdaq Rebounds and Dow Jones Slips

The U.S. stock market had a mixed day on Tuesday. Tech-heavy Nasdaq Composite rebounded after a rough start of the week, the S&P 500 saw a slight surge while the Dow Jones Industrial Average headed in the opposite direction.

Nasdaq benefited from the surge of tech stock, including chipmaker Nvidia. After losing more than 11% of its value in the past five days, Nvidia’s shares bounced back 6.76% to close at $126.09 per share. Nasdaq recorded a gain of 1.26% or 220.84 points, closing at 17,717.65.

Experts believe that the recent dip in tech stock was caused by some investors taking profit but don’t see the trend continuing.

“Tech is again leading the way, and Nvidia is being bought off the dip,” Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, told CNBC. “This year is still all about tech and AI — maybe a little bit of profit taking over the last few days.”

S&P 500 improved by 0.39% to close at 5,469.30 points on Tuesday. The index ended a three-day losing streak that included sinking as low as 5,448.79 points the previous day.

The Dow Jones, on the other hand, saw a significant surge to start the week before sliding 0.76% or 299.05 points on Tuesday and closing at 39,112.16.

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