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Stocks drifted to a mixed close as momentum stalled following Wall Street’s hot first half of November.
The S&P 500 rose 0.1% Thursday. The Dow slipped 45 points, and the Nasdaq composite rose 0.1%. Walmart and Cisco slumped after giving disappointing forecasts. Oil companies also fell sharply after crude dropped to its lowest price since July.
Wall Street is still on track for its best month in a year on hopes the Federal Reserve will take it easier on interest rates. Treasury yields sank after more reports bolstered hopes the economy is cooling enough to no longer need rate hikes to slow it down.
On Thursday:
The S&P 500 rose 5.36 points, or 0.1%, to 4,508.24.
The Dow Jones Industrial Average fell 45.74 points, or 0.1%, to 34,945.47.
The Nasdaq composite rose 9.84 points, or 0.1%, to 14,113.67.
The Russell 2000 index of smaller companies fell 27.46 points, or 1.5% to 1,773.76.
For the week:
The S&P 500 is up 93 points, or 2.1%.
The Dow is up 662.37 points, or 1.9%.
The Nasdaq is up 315.56 points, or 2.3%
The Russell 2000 is up 68.43 points, or 4%.
For the year:
The S&P 500 is up 668.74 points, or 17.4%.
The Dow is up 1,798.22 points, or 5.4%.
The Nasdaq is up 3,647.19 points, or 34.8%.
The Russell 2000 is up 12.51 points, or 0.7%.