{"id":3101,"date":"2026-06-24T23:35:04","date_gmt":"2026-06-24T23:35:04","guid":{"rendered":"https:\/\/southfloridamovingguides.com\/?p=3101"},"modified":"2026-06-24T23:35:04","modified_gmt":"2026-06-24T23:35:04","slug":"us-stocks-end-mixed-weighed-down-by-more-losses-for-tech-giants","status":"publish","type":"post","link":"https:\/\/southfloridamovingguides.com\/?p=3101","title":{"rendered":"US stocks end mixed, weighed down by more losses for tech giants"},"content":{"rendered":"
\n

NEW YORK (AP) \u2014 Stocks wavered to a mixed close on Wall Street Wednesday as technology stocks once again weighed down the market.<\/p>\n

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Declines for several influential tech heavyweights, including Microsoft, pulled the broader market lower even though most stocks in the S&P 500 gained ground. That was also the case on Tuesday, when tech stocks pulled the market lower despite broader gains elsewhere.<\/p>\n

The S&P 500 fell 7.24 points, or 0.1%, to 7,358.22, despite nearly 2 out of every 3 stocks gaining ground. The Dow Jones Industrial Average, which is less weighted with tech stocks, rose 182.06 points, or 0.4%, to 51,848.90.<\/p>\n

The tech-heavy Nasdaq composite fell 110.40 points, or 0.4%, to 25,476.64.<\/p>\n

A 2.3% drop in Microsoft was the heaviest weight on the market. Oracle slumped 4.6%.<\/p>\n

Many large tech companies have been behind Wall Street\u2019s record-setting run throughout the year, but analysts have warned their valuations may have become stretched.<\/p>\n

\u201cThe next phase of the AI investment cycle is beginning to collide with market discipline,\u201d said Jason Vaillancourt, chief portfolio strategist at Columbia Threadneedle, in a research note.<\/p>\n

Google\u2019s parent company Alphabet slipped 0.2%. The company is replacing Verizon in the Dow on Monday. The company\u2019s inclusion in the S&P 500 means more to investors, however, because 401(k) accounts are much more likely to include an S&P 500 index fund than anything tied to the Dow.<\/p>\n

Alphabet will become the fifth Magnificent 7 company to join the Dow. The others are Apple, Amazon, Microsoft and Nvidia.<\/p>\n

Oil prices continued slipping as the U.S. and Iran negotiate a possible end to their war. Brent crude, the international standard, fell 3.8% to $73.87 a barrel. It has been trading below $80 in recent days but is still above the roughly $70 per barrel it was trading at in late February before the war began. U.S. crude prices fell 3.9% to $70.34 a barrel.<\/p>\n

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Oil companies had some of the biggest losses. Exxon Mobil fell 2% and Chevron lost 2.6%.<\/p>\n

Some of the bigger winners on Wall Street included homebuilders following approval of legislation beneficial to the industry. KB Home surged 16.7% and D.R. Horton jumped 6.7%.<\/p>\n

Treasury yields mostly fell, removing some pressure from stocks. The yield on the 10-year Treasury fell to 4.40% from 4.50% late Tuesday. The yield on the 2-year Treasury eased to 4.15% from 4.16%.<\/p>\n

Treasury yields are still elevated from earlier in the year, especially the 2-year Treasury, which more closely tracks anticipated action from the Federal Reserve. The central bank has signaled that it is considering raising its benchmark interest rate by the end of the year. Wall Street is forecasting at least one hike to interest rates by December, according to data from CME Group.<\/p>\n

The Fed is worried about stubborn inflation, which had been rising throughout the year as tariffs raised the costs for a wide range of goods. A shock to energy prices because of the U.S. war with Iran worsened inflation. Gasoline prices surged and shipping costs rose. The impact is expected to linger even as oil and gasoline prices fall.<\/p>\n

The central bank will get an update on inflation Thursday, when its preferred measure for prices is released. Economists expect the Personal Consumption Expenditures price index, or PCE, to show that prices rose 4.1% in May. That would be the highest level in three years.<\/p>\n

\u201cThursday\u2019s PCE is set to take on greater importance for markets, especially since Federal Reserve Chair (Kevin) Warsh was emphatic in last week\u2019s meeting about the central bank\u2019s desire to achieve price stability,\u201d wrote Rick Gardner, chief investment officer at RGA Investments, in a research note.<\/p>\n

Gold prices fell 3.4% to settle at $4,008.80 an ounce. Earlier in the day, gold briefly traded below $4,000, and hasn’t settled below that level since November. Gold was above $5,000 an ounce earlier in the year. The precious metal is often seen as a barometer of the appetite for risk among investors, with more buying at times of increased anxiety and more selling as anxiety eases.<\/p>\n

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Markets were mixed in Europe.<\/p>\n

___<\/p>\n

AP Business Writers Chan Ho-him and Matt Ott contributed to this report.<\/p>\n<\/article>\n","protected":false},"excerpt":{"rendered":"

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