S&P 500 flat as rally loses momentum; Dow slips from record high

6 August 2026 · Source balance: Centre

Stock markets showed mixed results on Thursday as the market's four-day rally came to an end. The S&P 500 fell 0.2 percent while the Dow Jones dropped 0.85 percent, snapping its five-day winning streak. Meanwhile, the Nasdaq Composite slipped 0.1 percent. The decline came as investors absorbed mixed corporate earnings reports and evaluated recent economic data. Chip stocks particularly weakened, with storage company Western Digital down 18.5 percent and memory maker Sandisk dropping over 11 percent despite both forecasting strong revenues. However, Nvidia gained more than 3 percent earlier in the week, bolstered by announcements that SpaceX would exclusively use Nvidia processors for artificial intelligence infrastructure. Treasury yields rose and oil prices climbed above 78 dollars per barrel on geopolitical tensions, adding to market pressure. Investors are now watching labor market data and an upcoming wave of corporate earnings reports.