The New York stock market has paused for breath after a recent surge. The three major indexes closed mixed.
On the 14th (local time), the Dow Jones Industrial Average, centered on large-cap stocks, finished trading at 40,051.06, down 89.37 points (0.21%) from the previous session.
The Standard & Poor's (S&P) 500 index, centered on blue-chip stocks, rose 6.03 points (0.1%) to 5,892.58, while the Nasdaq Composite index, focused on technology stocks, closed up 136.72 points (0.72%) at 19,146.81.
Experts evaluated that the absence of major economic indicators during the trading hours created a moment for investors to pause.
The S&P 500 index surged 22% compared to its intraday low recorded last month, entering the overbought territory from oversold.
Following an agreement over the weekend between the U.S. and China to reduce tariffs for 90 days and continue trade negotiations, optimism is gaining momentum in the New York stock market.
However, experts are wary of premature optimism. The tariffs imposed by President Donald Trump remain at a high level. The Federal Reserve (Fed) is also showing a cautious attitude toward interest rate cuts.
Philip Jefferson, vice chair of the Fed, said, "Recent inflation indicators point to progress toward the Fed's 2% target, but the outlook remains uncertain."
Market participants are focusing on the remarks of Jerome Powell, chair of the Fed, scheduled for the 15th. There is interest in how the U.S.-China trade agreement has altered his economic outlook.
"Magnificent Seven" technology stocks showed mixed results on this day. Nvidia rose 4.16% following the previous day. A large supply contract with AI corporation Humane, backed by the Saudi sovereign wealth fund, acted as a positive factor.
Tesla rose more than 4%, while Alphabet also rose over 3%. AMD saw a nearly 5% surge on news of an expansion of its $6 billion share buyback program.
Boeing received news of a $200 billion aircraft order from Qatar Airways but reduced its intraday gains and closed with a slight increase.
Clothing brand American Eagle Outfitters announced it would withdraw its earnings forecast for fiscal year 2025 due to sluggish sales and inventory losses caused by excessive discounts, leading to a 6.45% drop in its stock price.