The S&P 500 was 0.3 per cent lower in afternoon trading after setting an all-time high for the 31st time this year before Wednesday’s holiday. There were slightly more stocks rising than falling in the index. The Dow Jones was up 0.7 per cent and the Nasdaq fell 0.9 per cent. The Australian sharemarket is set to advance, with futures at 5am AEST pointing to a rise of 13 points, or 0.2 per cent, at the open. The ASXNvidia gave up an early gain and fell 3.
In a show of how powerful AI can be, Accenture rose 7.3 per cent even though the consulting and professional-services company reported weaker profit and revenue for the latest quarter than expected. In its earnings report, it highlighted how it won over $US900 million in new bookings for generative AI, bringing the total for its last three quarters to more than $US2 billion.
Treasury yields ticked higher following a spate of mixed reports on the economy. The number of US workers filing for unemployment benefits eased last week, but not by as much as economists expected. A separate report said manufacturing in the mid-Atlantic is growing, but not as quickly as economists thought. Home builders, meanwhile, broke ground on fewer new homes last month than expected.
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