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US shares mostly lower after latest data
DJIA up 3.22 points (Il Sole 24 Ore Radiocor) - New York, 21 Jun - US shares were trading mostly lower as investors assessed the latest data. Wall Street remains on pace for a winning week despite the S&P 500 and tech-heavy Nasdaq retreating from record highs yesterday as losses for AI darling Nvidia took their toll.
The semiconductor giant, which has grown more than 160% this year after nearly tripling its value last, is down more than 3.1% after shedding 3.5% yesterday to cede the crown of most valuable stock back to Microsoft.
The stock has boomed thanks to growing demand for chips that train and run generative AI models like OpenAI's ChatGPT and investors are upbeat the rally could have further to run.
On the data front, the flash US manufacturing purchasing managers' index edged higher to 51.7 in June from 51.3 in May and the flash US services purchasing managers' index business activity index rose to 55.1 from 54.8 in May, both topping expectations.
While sales of existing homes in the US fell 0.7% in May from the previous month, but less than forecast.
The May leading economic index (LEI) declined 0.5%, largely in line with expectations for a 0.4% decline.
At 1822 GMT, the Dow Jones was gaining 3.22 points, or 0.01%, at 39,137.98 points.
The S&P 500 was 9.23 points, or 0.17%, lower at 5,463.94 points.
The Nasdaq was losing 33.12 points, or 0.19%, at 17,689.26 points.
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(RADIOCOR) 21-06-24 19:35:21 (0624) 5 NNNN