On Thursday, Aug. 29, U.S. stocks closed with mixed results. The Dow reached a record high, fueled by strong economic data showing faster-than-expected growth driven by robust consumer spending, which suggests a recession is unlikely.
In contrast, Nvidia’s shares declined as its outlook, though it met expectations and failed to impress investors.
Economic data showed that U.S. initial jobless claims dropped by 2,000 to 231,000 for the week ending Aug. 24, while the GDP grew at an annual rate of 3.0% in Q2, up from 1.4% in Q1. Additionally, wholesale inventories increased by 0.3% in July, compared to a 0.2% rise in June.
Most sectors on the S&P 500 closed positively, led by gains in ...
