Stock market today: Wall Street drifts following its 3-day losing streak
U.S. stocks are drifting a bit higher following a three-day lull
NEW YORK — U.S. stocks are drifting on Wednesday as a lull on Wall Street extends.
The S&P 500 was up 0.3% in afternoon trading. It’s on track for its first gain since setting an all-time high last week on Thursday, but all its movements since then have been relatively modest.
The Dow Jones Industrial Average was up 255 points, or 0.7%, as of 1:12 p.m. Eastern time, and the Nasdaq composite was mostly unchanged.
Shares of Trump Media & Technology Group are continuing their wild ride, jumping another 17.1%. The company behind the money-losing Truth Social platform has zoomed well beyond what critics say is rational, as fans of former president Donald Trump keep pushing it higher.
Merck climbed 3.9% after federal regulators approved its treatment for adults with pulmonary arterial hypertension, a rare disease where blood vessels in the lungs thicken and narrow.
Cintas, a provider of work uniforms and office supplies, was another big force pushing the S&P 500 upward. It jumped 8.2% after reporting stronger profit for the latest quarter than analysts expected.
Robinhood Markets climbed 5.3% after unveiling its first credit card, which is reserved for its subscription-paying Gold members, along with other new products.
On the losing end of Wall Street was Nvidia, which is on track for a second straight loss after screaming 91% higher for the year so far. It sank 2.7%, as some investors may be locking in profits before closing their books for the end of the quarter. Nvidia has been one of the biggest winners of Wall Street’s frenzy around artificial intelligence.
GameStop also tumbled after delivering a profit for the latest quarter and a drop in revenue from
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