Stock Market Today: Live Updates

the Standard & Poor's 500 Shares fell on Thursday after briefly surpassing the 5,500 level for the first time ever as market leader Nvidia gave up earlier gains.

The broad market index fell by 0.3% after rising by 0.3% at its highest levels during the session. the Nasdaq Composite It decreased by 0.9%, while it decreased Dow Jones Industrial Average The index outperformed, rising 355 points, or 0.9%, and is on track for its best day since May.

“Seasonally adjusted, it's a period of low trading volume for the markets and there doesn't seem to be much moving things on a day-to-day basis,” said Nathan Kotler, head of trading at GenTrust. “You're starting to see some signs of a little bit of overstretching, but there's been an incredible amount of momentum that's continued this week.”

Nvidia It fell by 3.4% after rising earlier in the session. The chipmaker temporarily unseated Microsoft as the most valuable public company on Tuesday. Shares are up more than 160% this year as the artificial intelligence boom continues to boost stocks even as consumers show signs of a slowdown in spending.

Darden Restaurants rose 2% after beating earnings expectations, while Gilead Sciences It jumped 8% after a successful late-stage trial of the HIV prevention shot.

Stocks are headed for a winning week as the S&P and Nasdaq continue to set new records. The stock market was closed on Wednesday for the Juneteenth holiday.

Excitement around artificial intelligence has continued to push the market higher in recent weeks, even as some on Wall Street have raised concerns about a lack of market breadth outside of giant tech companies, which could worsen.

At the same time, new economic data has helped strengthen the argument that the economy is in decline. This data included higher than expected weekly unemployment claims and weak housing starts and permits. The Philadelphia Fed manufacturing index reading also came in below estimates.