Global Stocks and Commodities Face Mixed Trading Amid Tech Pressures
US stocks showed mixed trading with the S&P 500 slightly down, while gold prices stabilized above $5,000 per ounce. Tech stocks, including AMD, faced pressure. In contrast, gold saw a recovery due to ongoing economic uncertainties. Mixed economic reports influenced Treasury yields, keeping them steady.
US stock markets experienced mixed trading on Wednesday, marked by a slight decline in the S&P 500 and a stabilization of gold prices above $5,000 per ounce. The Dow Jones Industrial Average saw a 0.6% increase, while the Nasdaq composite decreased by 0.6%.
Technology stocks, including Advanced Micro Devices, faced a downturn despite reporting stronger profits than anticipated. Concerns over high valuations and competition from AI-driven solutions pressured the sector. Additionally, Uber Technologies saw a 5.4% drop after quarterly results fell short of expectations.
In contrast, commodities like gold and silver rebounded after recent dips, as investors sought safer assets. Treasury yields remained steady following mixed economic reports, with employment figures below expectations and steady growth in services sectors with rising costs signaling potential inflation concerns.
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