LIVE MARKETS-S&P 500 edges higher despite slide in tech and chip stocks

Meta Platforms
Roundhill Magnificent Seven ETF
Tesla Motors, Inc.
Dow Jones Industrial Average
CBOE Volatility Index

Meta Platforms

META

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Roundhill Magnificent Seven ETF

MAGS

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Tesla Motors, Inc.

TSLA

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Dow Jones Industrial Average

DJI

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CBOE Volatility Index

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Nasdaq ends down 0.8%; S&P 500 ekes out positive session; Dow up 1.14%

Healthcare, Staples lead S&P sector gainers; Comm Svcs, Tech weakest groups

Dollar down ~0.5%; US crude slips; gold, bitcoin both up >2%

US 10-Year Treasury yield edges up to ~4.49%

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S&P 500 EDGES HIGHER DESPITE SLIDE IN TECH AND CHIP STOCKS

Wall Street's main indexes ended mixed in choppy trading on Thursday as investors continued rotating out of technology and semiconductor stocks, while a weaker-than-expected U.S. jobs report tempered concerns that the Federal Reserve could maintain a hawkish policy stance.

The benchmark S&P 500 .SPX spent most of the session in negative territory before edging higher late in the day. The Dow .DJI gained, while the Nasdaq .IXIC closed lower.

Of note, the Dow scored a record closing high.

Data showed U.S. nonfarm payrolls increased by 57,000 jobs last month, well below economists' expectations for a gain of 110,000. The unemployment rate stood at 4.2%, compared with forecasts of 4.3%.

Most S&P 500 sectors ended higher. Healthcare stocks .SPXHC led gains, rising 2.7%, followed by consumer staples .SPLRCS, which advanced 2.4%.

Technology shares .SPLRCT were the biggest drag on the benchmark index, falling about 1.5%. Most of the Magnificent Seven MAGS.K megacap stocks declined, with Tesla TSLA.O tumbling 7.5% and Meta Platforms META.O sliding nearly 5%.

Semiconductor stocks .SOX extended losses for a second straight session, dropping 5.5%.

U.S. markets are closed Friday ahead of the July 4 holiday.

Here is a snapshot of where markets stood shortly after 4 p.m. ET.

(Chibuike Oguh)

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