MARKET UPDATE

S&P 500, Nasdaq End Wednesday Lower As Market Rally Pauses

U.S. stocks were little-changed Wednesday, with the the S&P 500 trading around highest closing levels since August 2022.

The S&P 500 ticked down 0.38%. The Dow Jones Industrial Average added 92.76 points, or 0.28%, while the Nasdaq Composite declined 1.75%.

Energy was the best-performing S&P 500 sector, rising 2.63%. The SPDR S&P Oil & Gas Exploration & Production ETF and First Trust Natural Gas ETF added 3.6% and 3.23%, respectively.

Regional banks saw their gains continues as the SPDR S&P Regional Banking ETF (KRE) was up 3.68%, ending its fourth consecutive session in the green. Shares of PacWest Bancorp jumped 14.38%, while Zion Bancorporation added 4.55%.

Stocks have been boosted recently as the promise of artificial intelligence lifts tech stocks. Over the past three months, the S&P 500 is up more than 7%.

Source : CNBC

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