After days of sharp gains, the New York stock market paused on Aug. 5 (Eastern time) and ended mixed.
On the day, the Dow Jones Industrial Average finished up 263.24 points (0.49%) from the previous close at 54,349.12. In contrast, the Standard & Poor's (S&P) 500 index fell 12.97 points (0.17%) to 7,723.55, and the tech-heavy Nasdaq composite ended down 221.55 points (0.83%) at 26,363.44.
The S&P 500, which set a record high at the previous close, also notched an intraday record high early in the session but then turned lower and ultimately finished weaker. The Dow, by contrast, again set a record high on a closing basis.
After surging for four straight sessions on hopes for the reopening of the Strait of Hormuz, New York stocks took a breather as investors watched how the Middle East situation unfolds. Iran said it had reached agreement on the geographic coordinates of the proposed route in talks with Oman over the Strait of Hormuz.
There was also news that dampened sentiment toward tech stocks. Alphabet, Google's parent company, fell 4.06% after news that Jeff Dean, the senior scientist long considered a "legend" within Google, is leaving the company, leading the day's weakness in tech.
Meanwhile, Nvidia rose 3.44% after SpaceX said it would use only Nvidia's graphics processing units (GPUs) to build its future AI computing infrastructure. Rival AMD plunged 7%.