S&P 500 Stabilizes With Gains

Trading conditions on Thursday were limited, with many investors away for Veteran’s Day. Bond markets have been closed.

The S&P 500 index started the U. S. session above 4660 but has gradually been lower to around the 4650 mark, where it trades with one the day gains of about 0.1%.

The broad stabilization comes following the S&P 500’s worst day in over a month on Wednesday when investors took profit in wake of the highest U. S. Consumer Price Inflation reading since 1990.

The Nasdaq 100 is up by 0.3%, though has also pulled back from prior session highs above 16,100 to current levels just above the 16K level.

The Dow Jones is the underperformer, down 0.4%, dragged lower by a near-7.0% fall in index heavyweight Disney’s share price following a disappointing earnings release.

Tech stocks also got a boost from a strong performance by semiconductor names. The Philadelphia SE Semiconductor index was up 1.7% on Thursday, erasing Wednesday’s post-U. S. inflation data losses, led by a near-3.0% rally in Nvidia’s share price after Susquehanna raised the price target to $360 from $250 (currently traded above $300).