US equity close: Tech FOMO outweighs inflation report | Forexlive

Fear of missing out is a helluva drug. It seems as though tech stocks are getting a dose of it right now, especially the stocks most exposed to artificial intelligence.

• S&P 500 down 1 point, or 0% to 4136
• Nasdaq up 0.6%
• Russell 2000 +0.1%
• DJIA -0.5%

Nvidia is becoming the go-to AI name and shares raced 5.4% higher today to lead the way. Given that inflation was higher than expected, this was a performance that’s better than it looks. 3-year Treasury yields rose 10 bps today as the market prices in a higher-for-longer scenario.