US stocks trade mixed as tech names drag the Nasdaq lower for the 5th session in a row

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US stocks traded mixed on Thursday, with the Dow Jones Industrial Average climbing and the S&P 500 and Nasdaq ending lower for the day.

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05 Jan 2024

US stocks traded mixed on Thursday, with the Dow Jones Industrial Average climbing and the S&P 500 and Nasdaq ending lower for the day.

Shares of Amazon, Microsoft, and Apple dipped, helping bring the tech-heavy Nasdaq to its fifth consecutive losing session.

Apple in particular has had a tough week, facing two Wall Street downgrades from Barclays and Piper Sandler. The stock shed another 1.2% on Thursday to end the session at $TKTKT a share.

Meanwhile, ADP's report released before the opening bell showed that private payrolls jumped 164,000 in December, above estimates of 130,000, and above November's revised reading of 101,000.

The hotter-than-expected reading suggests the Federal Reserve could stay hawkish to keep a lid on inflation and to keep the economy from overheating again. Fed meeting minutes released on Wednesday showed that central bankers believe they still have work to do in order to keep