Stock Market Midday, Oct. 8: Stocks Edge Lower on Growing AI Caution
As of 11:37 AM ET, the S&P 500 (SNPINDEX:^GSPC) is down 0.39% to 7,771, while the Nasdaq Composite (NASDAQINDEX:^IXIC) is trading 0.60% lower to 27,372, and the Dow Jones Industrial Average (DJINDICES:^DJI) has slipped 0.40% to 50,973 as investors weigh rising energy costs and hawkish central bank signals. Gold increased 0.09% to $4,114.73, and the 10-Year Treasury yield edged up slightly to 5.30%. Energy and consumer defensive sectors advanced while healthcare and industrials struggled relative to the broader market. Marathon Petroleum Corp climbed this morning after Mizuho upped its price target on the stock. Chipotle Mexican Grill is outperforming on takeover rumors. Meanwhile, Marvell Technology shares dropped as artificial intelligence (AI) stocks came under pressure. Universal Display slid following a Citi downgrade. Continue reading