Stock market today: Live updates
How did Nvidia's stock performance impact the information technology sector?
Nvidia's stock performance led the information technology sector to drop 1.6% as the chipmaker's shares fell 3.5% on Thursday. Despite this dip, Nvidia is still up more than 160% year to date, and it briefly surpassed Microsoft as the most valuable public company on Tuesday.
How did the Dow Jones perform compared to Nasdaq and S&P 500?
The Dow Jones Industrial Average outperformed the Nasdaq Composite and S&P 500, rising nearly 300 points or 0.77% for its best day this month. The S&P 500 closed 0.25% lower, while the Nasdaq Composite fell 0.79%. All three major averages are on pace for weekly gains, with the Dow leading at a 1.4% rise week to date.
What are Jamie Cox's views on the current market conditions?
Jamie Cox, managing partner at Harris Financial Group, believes that the current market has signs of being overextended, especially in the information technology sector. However, he does not expect a market crash or massive drawdowns. Instead, he anticipates a rebalancing of the field and a broadening of valuations as a natural market correction.