US stocks close lower as tech shares sink, but more stocks rise than fall
Thursday 29 October: the S&P 500 slipped 0.3% to 7,720.39, the Nasdaq Composite −1.4% and the Dow −0.3%.
US stocks closed lower on Thursday as technology shares sank, even though 404 of the 500 large US stocks StocksXray tracks rose and only 96 fell. The S&P 500 eased 0.3% to 7,720.39, the Nasdaq Composite slid 1.4% to 26,185 and the Dow Jones slipped 0.3% to 52,343.
Consumer discretionary was the strongest of the 11 sectors, up 3.2% on average, while technology was the weakest at −1.1%. Gen Digital (GEN) led the gainers with a 15.8% jump, ahead of Carvana (CVNA) at 15.7% and Norwegian Cruise Line (NCLH) at 13.4%. On the downside, ServiceNow (NOW) fell 26.9%, Fortinet (FTNT) 20.1% and Marvell Technology (MRVL) 13.2%.
The VIX volatility index rose to 17.2. The dollar index eased 0.3%.
For the year, the S&P 500 is up 12.8%, 1.3% below its 52-week high. StocksXray's Market Compass reads Risk-on, with 1 of 7 warning signals on.
The numbers
| Market | Last | Day |
|---|---|---|
| S&P 500 | 7,720.39 | −0.30% |
| Dow Jones | 52,342.56 | −0.25% |
| Nasdaq Composite | 26,184.72 | −1.38% |
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Educational only, not financial advice. Numbers beside the story are from our own data.