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US Stocks Close Mixed Amid Continued Tech Sell-Off US stocks closed mixed on Thursday as investors continued to offload some of this year's top-performing tech stocks for a second day, casting doubts on the sustainability of the AI-driven rally. This followed the market's worst sessions since 2022. Market Performance: - S&P 500: Fell 0.5% - Nasdaq 100: Slipped 1% - Dow Jones Industrial Average: Gained 81 points Market Drivers: - GDP Data: The US economy grew by a better-than-expected 2.8% in Q2, reinforcing views that the Federal Reserve can manage inflation without harming economic growth. This data initially supported gains but was not enough to sustain them. Sector Performance: - Gainers: - Energy - Industrials - Decliners: - Communication Services - Technology Notable Stock Movements: - Megacap Tech Stocks: - Microsoft: Fell 2.5% - Alphabet (Google): Dropped 3.1% - AMD: Declined 4.3% - Positive Earnings Impact: - AbbVie: Jumped 3.4% after posting upbeat results. - IBM: Soared 3.9% on strong earnings. - Significant Decline: - Ford Motor: Plunged 18.3% after missing second-quarter estimates, marking its worst decline since May 2009. Investor Focus: Investors remain cautious about the tech sector's valuation and sustainability of the AI-driven market rally. The mixed market reaction to robust GDP growth indicates that concerns over corporate earnings and future guidance are influencing investor sentiment. Conclusion: Thursday's mixed market performance highlights the ongoing volatility and sector rotation as investors reassess their positions in light of earnings reports and economic data. The substantial movements in key stocks underscore the market's sensitivity to earnings results and forward-looking statements from major corporations. Based on our research, recently there has been a minor divergence between the Nasdaq and the Dow, USTEC and US30 must close above key level at 19,000 pts and 40,000 pts in this mid short term market correction. Risk Disclaimer: This advice is general in nature, without considering your specific financial situation and needs. Investment involves risks, so please evaluate carefully.