LIVE MARKETS-Tech tumbles on Nvidia drag but Dow eyes 10th straight monthly gain

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TECH TUMBLES ON NVIDIA DRAG BUT DOW EYES 10TH STRAIGHT MONTHLY GAIN

The main U.S. indexes ended mixed on Thursday, the day after a less-than-stellar earnings report from artificial intelligence vanguard Nvidia weighed on technology shares which have provided muscle to the recent rally.

Nvidia NVDA.O ended down more than 5%.

With this, the Nasdaq .IXIC fell 1.2% and the S&P 500 .SPX lost 0.5%, although both indexes did finish well off their worst levels. The Dow .DJI edged green at the close.

A majority of S&P 500 sectors finished lower with tech .SPLRCT, tumbling nearly 2%, taking the biggest hit. Financials .SPSY, up more than 1%, led gainers.

The PHLX semiconductor index .SOX lost 3.2%. Indeed, the chip index may have been stretched to the upside and ripe for a setback given that through Wednesday's close it was on track to rise for an 11th straight week. With Thursday's slide, however, the SOX is now negative for the week. The SOX rose 11 weeks in a row in November 2017. Using LSEG data back to mid-1994, the index has never risen 12 straight weeks.

Gold/silver miners, transports .DJT, software & services .SPLRCIS and big banks .SPXBK were among the outperformers on the day. The Mag 7 ETF MAGS.K finished down 1.6%.

Growth .IGX underperformed value .IVX. In fact, growth is on pace for its biggest monthly drop vs. value since March 2025.

Among indexes scoring record closes were the S&P 500 Equal-Weighted Index .SPXEW, the NYSE Composite .NYA and the Philadelphia Gold/Silver Index .XAU.

And going into the final trading day of the month, the blue-chip Dow is up 1.24% in February, which has it on pace to rise for a 10th month in a row. The Dow last advanced 10 straight months in January 2018. The Dow last rose more than 10 months in a row with a 12-month stretch of gains that ended in February 1959.

Here is a snapshot of where markets stood just shortly after 4 p.m. on Thursday.

(Terence Gabriel)

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(Terence Gabriel is a Reuters market analyst. The views expressed are his own)