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Barchart
Barchart
Rich Asplund

Tech Stocks Close Slightly Higher on Strength in AI and Chip Stocks

Dow Jones Industrials United States Morgan Stanley Flutter Entertainment Plc General Motors KB Home Piper Sandler

The S&P 500 Index ($SPX) (SPY) Wednesday closed down by -0.19%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down by -0.70%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.14%.

On Wednesday, stocks gave up early gains and settled mixed, with the Nasdaq 100 posting a 2-1/4 month high.  Higher T-note yields Wednesday led to some long liquidation pressures in equities. Also, negative corporate news undercut stocks.  General Motors closed down more than -4% after being downgraded to underweight at Morgan Stanley.  Also, KB Home closed down more than -5% after reporting weaker-than-expected Q3 EPS. 

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