Wall Street mixed: Dow Jones up, Apple hits record high, Nvidia falls
US stocks showed mixed performance in early trading. The Dow Jones Industrial Average rose over 220 points before paring gains, while the S&P 500 and Nasdaq reversed initial advances. Apple shares hit a new record high, but Nvidia and chip stocks faced selling pressure.
US stocks traded mixed in the early session on 13 November. The Dow Jones Industrial Average surged more than 220 points after the opening bell before trimming gains, recently standing at 52,372 points, up 75 points or 0.14 per cent.
The S&P 500 and the Nasdaq reversed their early advances. The S&P 500 fell 21 points to 7,571, down 0.28 per cent. The Nasdaq dropped 160 points to 25,205, a decline of 0.63 per cent.
Nvidia fell more than 2 per cent, while cloud computing provider CoreWeave lost nearly 8 per cent. Chip and optical communication stocks came under heavy selling pressure, with Coherent, Sandisk and AMD falling between more than 5 per cent and nearly 7 per cent.
Apple shares hit a new record high, rising nearly 2 per cent at one point.