Stocks Mixed as Nvidia Retreats, Retailers See Big Swings on Earnings
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Stocks started the day with mixed results as chip leader Nvidia pulled back while the Dow added 0.3%. Retail stocks Williams-Sonoma and Dollar Tree made big moves following earnings reports.
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Nvidia retreated over 2% despite an upgrade as shares fell below the 900 level. Tesla dropped nearly 4% after Wells Fargo downgraded the stock and cut its price target.
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Williams-Sonoma jumped over 18% to an all-time high after topping views and hiking its dividend and buyback. Dollar Tree plunged 15% on disappointing results and plans to close 600 stores.
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3M and Carnival were among the day’s winners, adding over 3% each. 3M extended its rebound while Carnival popped above its 50-day line.
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Royal Caribbean also edged up over 1% in sympathy with rival Carnival’s gains amid overall mixed trading on the major indexes.