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The S&P 500 hovered around the flatline Wednesday as Wall Street tried to extend its September gains.
The Dow Jones Industrials tumbled 249.54 points to 41,958.68
The much-broader index skidded 5.28 points to 5,729.65.
The NASDAQ Composite gained 23.87 points to 18,098.39.
Shares of Hewlett Packard Enterprise advanced more than 5% following an upgrade from Barclays, citing strong artificial data center demand as a positive catalyst. Stock in German software company SAP slipped more than 2% after news that the firm was being investigated by the U.S. Department of Justice. General Motors stock pulled back nearly 6% after a downgrade from Morgan Stanley’s Adam Jonas. Nvidia stock advanced 2.2%, with the gain helping lift the artificial intelligence darling’s market capitalization to above $3 trillion.
All three averages are on track for a positive September, though fears of a slowing economy still linger after last week’s rate cut from the Federal Reserve.
On the data front, new home sales slipped 4.7% in August to 716,000, down from July’s revised reading of 751,000. Investors will also look toward weekly jobless claims on Thursday.
Prices for the 10-year Treasury dropped, lifting yields to 3.77% from Tuesday’s 3.73%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.60 at $69.96 U.S. a barrel.
Gold prices gained $3.20 to $2,680.20 U.S. an ounce
