STORY: The S&P 500 and Nasdaq ended a bumpy session weaker on Thursday, failing to regain ground lost in the previous day’s tech-triggered sell-off.
The Dow added two-tenths of a percent, the S&P lost half a percent and the Nasdaq fell more than nine-tenths of a percent.
All three indexes were up for most of the session on the heels of stronger-than-expected second-quarter GDP data.
Megacap stocks traded higher mid-afternoon, only to fall later in the day, with Meta Platforms, Microsoft and Nvidia all ending lower.
Lackluster earnings from both Tesla and Alphabet had pummeled Magnificent 7 stocks a day earlier, causing the S&P and Nasdaq to log their worst day since 2022.
Alphabet’s shares dipped again on Thursday, falling 3% to the stock’s lowest close since May 6.
But Tesla rebounded 2%.
Four more megacap tech companies report earnings next week.
But while Brad Bernstein, managing director at UBS Private Wealth Management, called their…
