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Stocks wind up mixed on Wall Street after spending most of the day in the red
Yahoo Financeยท2025-11-07 06:04

Market Overview - Stocks experienced a mixed finish on Wall Street, marking the first weekly loss in four weeks, with major indexes fluctuating throughout the week [1] - The S&P 500 closed at 6,728.80, gaining 8.48 points (0.1%), while the Dow Jones Industrial Average rose 74.80 points (0.2%) to close at 46,987.10 [2] - The Nasdaq fell 49.46 points (0.2%) to 23,004.54 after being down as much as 2.1% during trading [2] Technology Sector Impact - The technology sector, particularly large-cap stocks, weighed heavily on the market, with Alphabet and Broadcom falling 2.1% and 1.7%, respectively [3] - The tech sector has shown the strongest growth among S&P 500 companies, with over 90% of companies reporting earnings that exceeded Wall Street expectations [5] Company Performance - Block, the payments company, saw a significant decline of 7.7% after reporting results that fell short of forecasts [4] - Peloton's stock surged 14.2% following better-than-expected results, while Expedia Group rose 17.5% after beating analysts' quarterly earnings forecasts [4] Economic Data and Sentiment - Corporate profits and forecasts are under scrutiny as investors assess the justification for the market's high valuations, especially amid the ongoing U.S. government shutdown [6] - The shutdown has resulted in the absence of key economic reports, including the monthly employment data for October, which is concerning given the weakening job market [7] - Consumer sentiment fell sharply to a three-year low, contrary to economists' expectations for a slight increase, as reported by the University of Michigan [8]