(MENAFN- Baystreet.ca) S&P Little Changed, Hovering Near August '22 Heights
Stocks were little-changed Wednesday, with the S&P 500 trading around highest closing levels since August 2022.
The Dow Jones Industrials just cleared breakeven 8.57 points to pause for noon hour at 33,581.85.
The much-broader S&P 500 backpedaled 11.25 points to 4,272.45.
The tech-heavy NASDAQ index dropped 88.96 points to 13,187.45.
The tail-end of earnings season pressed on with results from Dave & Buster's and Stitch Fix. Dave & Buster's gained 21%, while Stitch Fix added more than 32%.
Stocks have been boosted recently as the promise of artificial intelligence lifts tech stocks. Over the past three months, the S&P 500 is up more than 7%.
The U.S. trade deficit continued to increase in April, but came in slightly below economists' expectations. The deficit could translate into lower GDP growth for the second quarter.
Prices for the 10-year Treasury sagged, raising yields to 3.78% from Tuesday's 3.68%. Treasury prices and yields move in opposite directions.
Oil prices recovered $1.28 to $73.02 U.S. a barrel.
Gold prices sagged $15.80 to $1,965.70 U.S. an ounce.
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